latest news releases from the newsroom
Weil, Gotshal & Manges LLP
New York Police and Fire Widows' and Children's Benefit Fund to Honor Stone Point Capital CEO Charles Davis and NHL Hall of Famer Mark Messier At 23rd Annual Benefit Gala
NEW YORK, Sept. 17, 2008 (GLOBE NEWSWIRE) -- New York Police and Fire Widows' and Children's Benefit Fund Chairman Daniel J. "Rusty" Staub, and Stephen J. Dannhauser, Chairman of Weil, Gotshal & Manges LLP and President and CEO of the Fund, announced today they will honor Charles A. Davis, CEO of global private equity firm Stone Point Capital LLC, and Mark Messier, six-time Stanley Cup Champion and NHL Hall of Fame member, at the organization's 23rd Annual Benefit Gala on Tuesday, September 23rd at the New York Hilton Grand Ballroom. Philip V. Moyles, Jr., Senior Advisor at Stone Point Capital LLC is Chair for the black-tie optional event.
The Charles Drew University of Medicine and Science
Charles Drew University President Dr. Susan Kelly Sworn in as U.S. Citizen
LOS ANGELES, Sept. 17, 2008 (GLOBE NEWSWIRE) -- Dr. Susan Kelly, President and CEO of Charles Drew University of Medicine and Science (CDU), was sworn in as a United States citizen during a large naturalization ceremony at the Los Angeles Convention Center on September 11, 2008. The native Australian, born in Hobart, Tasmania, joined an estimated 18,000 people taking the oath of citizenship in separate ceremonies throughout the day.
American International Industries, Inc.
American International Industries Inc. Announces New Annual Meeting Location
HOUSTON and KEMAH, Texas, Sept. 17, 2008 (GLOBE NEWSWIRE) -- American International Industries, Inc. (Nasdaq:AMIN) Mr. Daniel Dror, Chairman and CEO, today announced that American International Industries Annual Meeting of Shareholders, scheduled to be held at Landry's, #1 Kemah Boardwalk, Kemah, TX 77565 on September 24, 2008 at 10:30 a.m., will instead be held at the Company's headquarters located at 601 Cien Street, Suite 235, Kemah, TX 77565 at the same scheduled date and time. The Company's offices did not sustain any damage from Hurricane Ike, whatsoever.
American Electric Technologies, Inc.
American Electric Technologies Reports Impact From September Storms
HOUSTON, Sept. 17, 2008 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (Nasdaq:AETI), the premium supplier of custom-designed power distribution and control solutions for the traditional and alternative energy industries, announced today that the company's facilities in Houston and Beaumont, Texas have received minor damage from Hurricane Ike. Presently, both facilities are up and running on back-up power with a partial workforce. The company also reported that advance hurricane preparations apparently resulted in little damage to customer equipment, shop equipment or inventory.
Nanosphere, Inc. to Present At the UBS 2008 Global Life Sciences Conference
NORTHBROOK, Ill., Sept. 17, 2008 (GLOBE NEWSWIRE) -- Nanosphere, Inc. (Nasdaq:NSPH), announced today that the company will present at the UBS 2008 Global Life Sciences Conference taking place at the Grand Hyatt New York City from September 22 to 25, 2008. William Moffitt, Nanosphere's president and chief executive officer, will present at 3:30 p.m. on Monday, September 22, 2008.
Levi & Korsinsky, LLP
Levi & Korsinsky, LLP Investigates Breach of Fiduciary Duty by the Board of Datascope, Corp.
NEW YORK, Sept. 17, 2008 (GLOBE NEWSWIRE) -- Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the Board of Directors of Datascope Corp. ("Datascope" or the "Company") (Nasdaq:DSCP) arising out of their attempt to sell the Company to Getinge AB. Under the terms of the agreement, Datascope shareholders would receive $53 in cash for every Datascope share they tender, for a total sale price of approximately $865 million in cash. The price is unfair given that the Company has a book value of $25.59 per share that includes over $15.80 per share in cash and no debt so that Getinge is effectively only paying approximately $615 million for the Company. Also, the $53 price offers shareholders essentially no premium over the Company's September 3, 2008 stock price of $52.95. Furthermore, the sales process the Company conducted was flawed given that, in contravention of their fiduciary duties to maximize shareholder value, the Company's Board agreed to a "no-shop" provision and a $30 million termination fee which will ensure no superior offer will ever be forthcoming. The proposed acquisition is subject to customary conditions and regulatory approvals.
Timberline Resources Corporation
Timberline Resources Corporation to Present At The Silver Summit
COEUR D'ALENE, Idaho, Sept. 17, 2008 (GLOBE NEWSWIRE) -- The management and directors of Timberline Resources Corporation (AMEX:TLR) invite the Company's current and future shareholders to join them at The Silver Summit, September 18 and 19, at the Coeur d'Alene Inn and Conference Center of Coeur d'Alene, Idaho. CEO Randal Hardy, Executive Chairman John Swallow, Vice-President of Exploration Paul Dircksen, and other Timberline team members will be in attendance and available to discuss the Company's accomplishments and future plans.
Provident Community Bancshares, Inc.
Provident Community Bancshares Reports No Exposure in Freddie Mac and Fannie Mae
ROCK HILL, S.C., Sept. 17, 2008 (GLOBE NEWSWIRE) -- Provident Community Bancshares, Inc. (Nasdaq:PCBS) does not hold any equity shares in either Freddie Mac or Fannie Mae and therefore does not have any exposure to loss. On September 7, 2008, Freddie Mac and Fannie Mae were placed in conservatorship. As a result of this movement by the United States Department of Treasury, the value of the equity securities has become severely impaired. Financial institutions that held Freddie Mac or Fannie Mae shares in their investment portfolio may be required to be written down as a result of becoming "other than temporary impaired." Provident Community Bancshares is the holding company for Provident Community Bank, N.A., which operates nine community oriented banking centers in the upstate of South Carolina that offer a full array of financial services. The holding company is headquartered in Rock Hill, South Carolina and its common stock is traded on the NASDAQ Global Market under the symbol PCBS.
Datascope Declares Quarterly Cash Dividend
MONTVALE, N.J., Sept. 17, 2008 (GLOBE NEWSWIRE) -- Datascope Corp. (Nasdaq:DSCP) announced that its Board of Directors declared a quarterly cash dividend of $0.10 per share, payable on October 15, 2008 to stockholders of record as of October 1, 2008.