latest news releases from the newsroom
Ocwen Financial Corp.
Ocwen Financial Corporation Announces $73.5 Million Debt Redemption
WEST PALM BEACH, Fla., Sept. 26, 2002 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) today announced a series of debt reductions, as approved by its Board of Directors, that will reduce its notes, debentures and interest bearing debt obligations by $73.5 million. As of June 30, 2002 the Company had $157.6 million of such obligations outstanding. The Company estimates that the combined result of these actions will reduce interest expense by approximately $8.0 million over the next twelve months and result in a net cost savings of approximately $4.7 million during the same period.
Cauley Bowman Carney & Williams, PLLC
Cauley Geller Bowman & Coates, LLP Announces Martha Stewart Living Omnimedia, Inc. Investors Have Until October 7 to File Lead Plaintiff Motion -- MSO
LITTLE ROCK, Ark., Sept. 26, 2002 (PRIMEZONE) -- The deadline for purchasers of Martha Stewart Living Omnimedia, Inc. ("MSLO" or the "Company") (NYSE:MSO) publicly traded securities to move for lead plaintiff in a securities fraud class action recently brought against the Company is rapidly approaching. If you purchased MSLO securities between January 8, 2002 and July 24, 2002, 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 October 7, 2002. A copy of the complaint filed in this action is available from the Court, or can be viewed on the firm's website at http://www.cauleygeller.com/pr/martha_stewart.pdf.
Cauley Bowman Carney & Williams, PLLC
Cauley Geller Announces SEC Investigation of HealthSouth Corporation Insider Sales -- HRC
LITTLE ROCK, Ark., Sept. 26, 2002 (PRIMEZONE) -- The Law Firm of Cauley Geller Bowman & Coates, LLP previously announced that a class action has been filed in the United States District Court for the Northern District of Alabama, Southern Division, on behalf of purchasers of HealthSouth Corporation ("HealthSouth" or the "Company") (NYSE:HRC) publicly traded securities during the period between January 14, 2002 and August 27, 2002, inclusive (the "Class Period"). A copy of the amended complaint filed in this action is available from the Court, or can be viewed on the firm's website at http://www.cauleygeller.com/pr/healthsouth.pdf.
Isee3d Inc. Announces Loan Financing
MONTREAL, Sept. 26, 2002 (PRIMEZONE) -- Isee3d Inc. (TSX Venture Exchange:YEY) (Other OTC:ISEDF) announced today that it has secured a bridge loan in the amount of $350,000 Canadian Dollars, which will be advanced to the company in three increments from an arm's-length lender. The proceeds will be applied to the expenses of Isee3d's pending reverse takeover (the `RTO') of Interactive Classified Corporation and QuikView Inc. as well for general working capital purposes.
Parthus Technologies plc
Combination of Parthus and Ceva - Parthus Shareholders and Optionholders Approve Scheme of Arrangement
DUBLIN, Ireland/SANTA CLARA, Calif., Sept. 26, 2002 (PRIMEZONE) -- Parthus Technologies plc ("Parthus") (LSE:PRH) (Nasdaq:PRTH), DSP Group, Inc. ("DSPG") (Nasdaq:DSPG) and Ceva, Inc. ("Ceva") jointly announce that, at the Extraordinary General Meeting and Court Meetings of Parthus held today, shareholders and optionholders of Parthus passed all resolutions necessary to approve the scheme of arrangement, including the capital repayment (the "Scheme"), as set out in the notices included in the circular to shareholders and optionholders dated Sept. 2, 2002 (the "Circular"). Pursuant to the Scheme, Parthus and Ceva will combine to form ParthusCeva, Inc., and Parthus will distribute an aggregate capital repayment of $60 million to its existing shareholders.