latest news releases from the newsroom
Murray, Frank & Sailer LLP
Rabin & Peckel LLP Commences Class Action Against American Express Company and Certain Officers and Directors Alleging Violations of Federal Securities Law -- AXP
NEW YORK, Aug. 19, 2002 (PRIMEZONE) -- A class action Complaint has been filed in the United States District Court for the Southern District of New York, civil action number 02 cv 6439, on behalf of all persons or entities who purchased securities of American Express Company ("American Express" or the "Company") (NYSE:AXP) between July 18, 1999 through July 17, 2001, both dates inclusive (the "Class Period"). American Express Company, Kenneth I. Chenault, Richard Karl Goeltz, Daniel T. Henry, Harvey Golub, David R. Hubers, Gary L. Crittenden, and James M. Cracchiolo are named as defendants in the complaint.
Statement by the AvestaPolarit Board Committee on Outokumpu's Share Redemption Offer
STOCKHOLM, Sweden, Aug. 19, 2002 (PRIMEZONE) -- The Board of Directors of AvestaPolarit Oyj Abp has today received the Finnish Financial Supervision Authority's decision to approve Outokumpu's redemption offer document. It has also received a statement from the Board Committee of independent directors, which was formed on 1 July 2002 to assess the Outokumpu redemption offer for all outstanding shares in AvestaPolarit. The Board Committee has concluded that it is not in a position to render a recommendation to the company's shareholders as to the redemption offer, particularly in view of the Finnish Financial Supervision Authority's decision, which, although approving the redemption offer document, contends the redemption offer price and argues that the calculation of the price should consider also the EUR 25 million paid by Outokumpu to Corus for the early termination of their Shareholders' Agreement.
Wolf Popper LLP
Wolf Popper LLP Updates Information on Securities Fraud Class Action Against Nicor -- GAS
NEW YORK, Aug. 19, 2002 (PRIMEZONE) -- On August 14, 2002, Nicor, Inc. (NYSE:GAS) issued a press release admitting that it was unable to meet Securities and Exchange Commission regulations requiring its top executives to certify Nicor's 2002 financial statements, citing uncertainties involving results of its gas distribution unit. That same day, the company announced it would restate its first and second-quarter financial results amid ongoing investigations, including an informal inquiry by the SEC. This information relates specifically to the securities fraud class action complaint filed by Wolf Popper LLP on July 24, 2002. The complaint was filed in the U.S. District Court for the Northern District of Illinois, on behalf of purchasers of Nicor common stock from April 18, 2000 through July 18, 2002, inclusive. A copy of the complaint is available from the U.S. District Court for the Northern District of Illinois and on Wolf Popper's website (www.wolfpopper.com).
Exus Networks, Inc.
Exus Networks Inc. Signs Agreement with New Millennium Development Group to Acquire Their Global Business Development Division
NEW YORK, Aug. 19, 2002 (PRIMEZONE) -- Exus Networks Inc. (OTCBB:EXUS), a global provider of end-to-end eLearning services, announced today that it has entered into an agreement to acquire a division of New Millennium Development Group (NMDG). The resulting merger will create the infrastructure for the largest Global Education Network. This acquisition of a global platform of clients, relationships and a base of over 500 shareholders will be a major breakthrough in Exus' restructuring and deployment of Exus' Global Education Network. Exus has been hampered in its efforts to deploy its Global Network because of difficult market conditions, limitations in its global presence and credibility with strategic partners worldwide. The acquisition brings well-established global relations and 500-shareholder base that is supportive to this global initiative.
Anoto Lands Asian Order
LUND, Sweden, Aug. 19, 2002 (PRIMEZONE) -- Chiahui Technologies is one of the first companies in Asia to offer pen and paper-based services enabling Anoto (Pink Sheets:AOTOF) (Stockholkm:ANOT) functionality to enterprises and consumers. Initial services, ranging from graphical email, fax and storing digital notes to customised digital forms solutions for enterprises, will be launched in Q4 2002.