latest news releases from the newsroom
CORRECTION: Adelphia Understated Debt by at Least $2.3 Billion During Fiscal 2001, Says The Pomerantz Firm Who Filed a Class Action Lawsuit -- ADLAC
NEW YORK, April 11, 2002 (PRIMEZONE) -- Adelphia Communications Corporation ("Adelphia" or the "Company") (Nasdaq:ADLAC) manipulated its financial statements whereupon it misrepresented the Company's earnings and financial results, thereby artificially inflating the Company's stock price by improper accounting practices, according to allegations in a Complaint filed by Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) on behalf of purchasers of the common stock of Adelphia during the period from April 2, 2001 through March 26, 2002, inclusive (the "Class Period). The case was filed in the United States District Court for the Eastern District of Pennsylvania. Defendants Adelphia and five of the Company's senior officers are charged with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
SCA's Annual General Meeting 2002
STOCKHOLM, Sweden, April 11, 2002 (PRIMEZONE) -- In addition to an historical review and a report on the Group's growth plans for the next five years, the departing President and CEO, Sverker Martin-Lof, provided information on the current market situation. With regard to hygiene products, it was stated that demand on the European market continues to be strong while, at the same time, raw material costs have reached a low point. Demand for corrugated board in Europe has stabilized, despite continued cyclical weakness in the industrial business climate. Nevertheless, some downward pressure on prices is being exerted due to overcapacity with regard to containerboard. The market remains weak for LWC paper, which has led to reduced deliveries and increased price competition. Even in the case of other publication paper grades, there has been a reduced pace of delivery and distinct price competition. The price decline for newsprint was 8% during the early months of 2002.
ISS Acquires CSFM (Holdings) Plc. in the U.K. and Seven Smaller Companies (with link)
COPENHAGEN, Denmark, April 11, 2002 (PRIMEZONE) -- ISS has acquired the Facility Services company CSFM (Holdings) Plc. in the U.K. with annual turnover of approximately DKK 426 million. In addition, ISS has acquired seven smaller companies, four within Facility Services and three within Damage Control, with combined annual turnover of approximately DKK 159 million.
Wilhelm Sonesson Proposed New Board Members
LUND, Sweden, April 11, 2002 (PRIMEZONE) -- At the Annual General Meeting of Wilhelm Sonesson on April 24, 2002, the following proposals will be made, with the support of shareholders representing approximately 53 percent of the total number of votes and approximately 42 percent of the capital.