latest news releases from the newsroom
Port of Houston Authority
PHA's Small Business Development Program Delivers Success
HOUSTON, Feb. 15, 2005 (PRIMEZONE) -- The Port of Houston Authority's Small Business Development Program (SBDP) achieved stellar performance results during 2004 through contract awards and purchase orders issued to hundreds of small business vendors. The SBDP is designed to help PHA contractors make good faith efforts to include small business participation in eligible contracts. The program's ultimate goal is to award at least 35 percent of all eligible contracts to small businesses. To date, in the three years since the inception of the PHA's small business program, a total of $76.2 million has been awarded or committed in contracts to eligible small businesses that have participated in the program.
Oneida To Sell Sherrill Flatware Manufacturing Facility
ONEIDA, N.Y., Feb. 15, 2005 (PRIMEZONE) -- Oneida Ltd. (OTCBB:ONEI) today announced that it is in final negotiations with respect to an agreement to sell certain assets of its flatware factory operations in Sherrill, N.Y., to Sherrill Manufacturing, Inc. on undisclosed terms. Oneida previously announced on September 9, 2004 that it was ceasing manufacture of flatware at its Sherrill facility.
Safeguard, World Wide Eyes Merger Discussions Terminated
REDONDO BEACH, Calif., Feb. 15, 2005 (PRIMEZONE) -- CorpHQ Inc. (Pink Sheets:COHQ) today announced that after more than seventy-five days of postponed meetings and delays, Axium Technologies Inc., f/k/a World Wide Eyes, Inc. ("WWE") has terminated merger discussions with Safeguard Technology International, Inc. ("STI"), a CorpHQ portfolio company.
Green Welling LLP
Claims of Ford Explorer Owners to Proceed as Class Action in California
SAN FRANCISCO, Feb. 15, 2005 (PRIMEZONE) -- Ford Motor Company suffered another setback in its effort to defend the Explorer sport-utility vehicle. On February 8, 2005, the California Superior Court in Sacramento certified a class-action lawsuit pending against Ford, charging that it knew of a rollover defect in its Explorer SUVs that it concealed from consumers.
Mobile Satellite Ventures
ATC Patent With 125 Claims Issues to Mobile Satellite Ventures
RESTON, Va., Feb. 15, 2005 (PRIMEZONE) -- Mobile Satellite Ventures (MSV) announced today that it has been awarded a 3rd patent, covering 125 claims. The grant of this patent, and allowance of all claims, extends MSV's issued patent portfolio to nearly 500 allowed claims. MSV's patents represent another important step in launching ancillary terrestrial component (ATC) technology.
Brower Piven, A Professional Corporation
Law Offices Of Charles J. Piven, P.A. Announces Class Action Lawsuit Against Veeco Instruments, Inc. -- VECO
BALTIMORE, Feb. 15, 2005 (PRIMEZONE) -- Law Offices Of Charles J. Piven, P.A. today announced that a securities class action was commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired the common stock of Veeco Instruments, Inc. (Nasdaq:VECO) between November 3, 2003 and February 10, 2005, inclusive (the "Class Period").
Transmeridian Exploration, Inc.
Transmeridian Receives Deferral of Loan Payments
HOUSTON, Feb. 15, 2005 (PRIMEZONE) -- Transmeridian Exploration, Inc. (OTCBB:TMXN) today announced that its 50%-owned subsidiary, OJSC Caspi Neft ("Caspi Neft") has executed amendments to its two primary loan agreements, pursuant to which the lender has granted it an extension of time for making all principal and interest payments due between February and mid-July 2005 under the two loan agreements until July 15, 2005. At the end of this deferral period, all previously scheduled payments, estimated to total approximately $14.4 million will be due and the remaining outstanding balance will be repayable according to the original payment schedules. In connection with the loan amendments, Transmeridian has agreed to advance up to $10.0 million to Caspi Neft to fund 100% of anticipated capital requirements for the first half of 2005.
Labaton Sucharow LLP
Shareholders Seek to Recover Damages Against Veeco Instruments, Inc. -- VECO
NEW YORK, Feb. 15, 2005 (PRIMEZONE) -- Goodkind Labaton Rudoff & Sucharow LLP filed a class action lawsuit on February 15, 2005 in the United States District Court for the Southern District of New York, on behalf of persons who purchased or otherwise acquired publicly traded securities of Veeco Instruments Inc. ("Veeco" or the "Company") (Nasdaq:VECO) between November 3, 2003 and February 10, 2005, inclusive, (the "Class Period"). The lawsuit was filed against Veeco, Edward H. Braun and John F. Rein Jr. ("Defendants").