latest news releases from the newsroom
Lockridge Grindal Nauen P.L.L.P.
Lockridge Grindal Nauen P.L.L.P. Clarifies Scope of Securities Class Action Lawsuit Involving Regions Morgan Keegan Select Intermediate Bond Fund and Regions Morgan Keegan Select High Income Fund
MINNEAPOLIS, Dec. 21, 2007 (PRIME NEWSWIRE) -- On December 6, 2007 Lockridge Grindal Nauen P.L.L.P. announced that it had filed a class action lawsuit against Morgan Asset Management, Inc., Morgan Keegan & Company, Inc., Regions Financial Corporation, MK Holding, Inc., Regions Financial Corporation, PricewaterhouseCoopers LLP, and certain individuals, officers and directors associated with the above entities in the United States District Court for the Western District of Tennessee, on behalf of investors who purchased shares of the Regions Morgan Keegan Select Intermediate Bond Fund and Regions Morgan Keegan Select High Income Fund from December 6, 2004 through October 3, 2007 (the "Class Period").
Nicholas-Applegate Convertible & Income Fund II
Nicholas-Applegate Convertible & Income Fund II Declares Special Income Dividend of $0.195 Per Share
NEW YORK, Dec. 21, 2007 (PRIME NEWSWIRE) -- The Board of Trustees of Nicholas-Applegate Convertible & Income Fund II (the "Fund") (NYSE:NCZ), a diversified closed-end management investment company which seeks to provide total return through a combination of capital appreciation and high current income, announced today that it has declared a special income dividend of $0.195 cents per common share.
Perfumania Holdings, Inc.
E Com Ventures, Inc. to Acquire Model Reorg, Inc.
SUNRISE, Fla., Dec. 21, 2007 (PRIME NEWSWIRE) -- E Com Ventures, Inc. (Nasdaq:ECMV) announced today that it has entered into an Agreement and Plan of Merger with Model Reorg, Inc. ("Model"), a corporation controlled by the family of Glenn and Stephen Nussdorf, principal shareholders of E Com. Pursuant to the terms of the Agreement, Model will be merged into a newly formed wholly-owned subsidiary of E Com in exchange for the issuance of 5,900,000 shares of E Com's common stock and warrants to acquire an additional 1,500,000 shares of E Com common stock at an exercise price of $23.94. The warrants will have a 10-year term, will not be exercisable for the first three years and will not be transferable, with limited exceptions.
Rosetta Resources Inc.
Rosetta Provides Update Regarding Calpine Bankruptcy
HOUSTON, Dec. 21, 2007 (PRIME NEWSWIRE) -- Rosetta Resources Inc. (Nasdaq:ROSE), an independent oil-and-gas company, today responded to Calpine's plan of reorganization which was confirmed by the Bankruptcy Court in New York on December 19, 2007. Although Rosetta generally supported Calpine's plan of reorganization, Rosetta objected to the release of Calpine's claims against, among others, members of Calpine's current and previous boards of directors on the ground that the proposed releases could not be justified in light of the allegations which Rosetta believes are frivolous and unsubstantiated that Calpine has made regarding these persons' conduct and role in its lawsuit against Rosetta.
PIMCO Global StocksPLUS & Income Fund
PIMCO Global StocksPLUS & Income Fund Declares Special Year-End Dividend of $0.82 Per Share
NEW YORK, Dec. 21, 2007 (PRIME NEWSWIRE) -- The Board of Trustees of PIMCO Global StocksPLUS & Income Fund (the "Fund") (NYSE:PGP), a non-diversified, closed-end management investment company which seeks to provide total return through a combination of current income, current gains and long-term capital appreciation, announced today that it has declared a special year-end dividend of $0.82 per share. The dividend is comprised of long-term capital gains of $0.4076 per share and income of $0.4124 cents per share.
Flint Telecom Group, Inc.
Semotus Continues Appeal Process to Remain Listed On the AMEX
LOS GATOS, Calif., Dec. 21, 2007 (PRIME NEWSWIRE) -- Semotus Solutions (AMEX:DLK), a leading provider of wireless enterprise applications, today announced that the American Stock Exchange has notified the Company of its intention to commence de-listing proceedings under Section 1009 of the AMEX Company Guide, because, despite Semotus reporting shareholders' equity in excess of $6 million as of September 30, 2007, AMEX staff has calculated that current shareholders' equity is below the Exchange's quantitative listing standards and it has concerns that Semotus will be unable to regain and/or maintain compliance going forward. Therefore, Semotus did not regain compliance with the Exchange's continued listing standards by the end of the Plan Period.