latest news releases from the newsroom
Murray, Frank & Sailer LLP
Rabin, Murray & Frank LLP Commences Class Action Against Dynacq Healthcare, Inc. and Certain of its Officers and Directors Alleging Violations of Federal Securities Law - DYII, DYIIE
NEW YORK, Jan. 2, 2004 (PRIMEZONE) -- A class action complaint has been filed in the United States District Court for the Southern District of Texas, Houston Division, case number H-04-0007, on behalf of all persons or entities who purchased Dynacq Healthcare, Inc. ("DYIIE" or the "Company") securities ((Nasdaq:DYIIE) and formerly (Nasdaq:DYII) during the period between January 14, 2003 and December 18, 2003, both dates inclusive (the "Class Period"). The Complaint names Dynacq Healthcare, Inc., Philip S. Chan, and Chiu M. Chan as defendants.
PharmChem Announces Amendment to Loan Agreement and Extension of AOUSC Contract
HALTOM CITY, Texas, Jan. 2, 2004 (PRIMEZONE) -- PharmChem, Inc. (OTCBB:PCHM) announced that it has reached an agreement with its principal lender, Silicon Valley Bank (the "Bank"), to amend the current Loan Agreement between the Company and the Bank. As a result of this amendment, the Company today made a one-time principal payment of $650,000 on its term loan bringing the balance to $600,000. In addition, monthly principal payments will increase from $41,667 to $83,334 beginning in January 2004 which would result in the term loan being fully amortized by July 2004. Also, so long as the term loan is outstanding, the interest rate on the revolving line of credit (which currently has a balance of $2.5 million) will increase to prime plus 2%. Once the term loan is fully paid, this interest rate will return to prime plus 1%.
Highway Holdings Limited
Highway Holdings Expands Business with World's Leading Lighting Company
HONG KONG, Jan. 2, 2004 (PRIMEZONE) -- Highway Holdings Limited (Nasdaq:HIHO) today announced it has received an initial original equipment manufacturing order from OSRAM GmbH, a subsidiary of Siemens AG (NYSE:SI), valued at approximately $3.7 million. The company said this initial contract represents an entirely new business line and the beginning of a long-term commitment to produce finished products in an original equipment manufacturing capacity.
Schiffrin Barroway Topaz & Kessler, LLP
The Law Firm Of Schiffrin & Barroway, LLP Announces That Fred Alger Mutual Fund Investors Have Five Days Remaining to File Lead Plaintiff Motion -- ALMRX, SPEAX, ALGRX, ALBAX
BALA CYNWYD, Pa., Jan. 1, 2004 (PRIMEZONE) -- Fred Alger Mutual Fund investors have five (5) days to move for lead plaintiff in a securities fraud class action recently brought against Fred Alger Management Inc., the Alger Fund, James Patrick Connelly Jr., the Fred Alger Funds, and Veras Investment Partners, LLP. If you purchased any of the Fred Alger Funds listed below between November 1, 1998 and September 3, 2003, inclusive (the "Class Period") and you wish to be a lead plaintiff in the case, you must move to serve as lead plaintiff by filing a motion in the United States District Court for the Southern District of New York by January 5, 2004.