CHAPEL HILL, N.C., July 28, 2008 (PRIME NEWSWIRE) -- Clark Financial Group, LLC (CFG), a provider of corporate finance advisory services to enhance shareholder value, today announced that it has commenced operations in Chapel Hill, North Carolina. The firm is led by Jim Clark, who for the last eight years was CFO for etrials Worldwide, Inc. (Nasdaq:ETWC). Mr. Clark brings over thirty years experience serving the corporate finance needs of corporations, with the goal of enhancing shareholder value. He has raised over $200 million in equity capital in the public and private markets and debt for working capital and acquisition financing. Mr. Clark has negotiated and closed over fifteen acquisitions during his career.
"This firm is dedicated to providing practical, results-oriented advice to investors and companies seeking to improve financial performance and enhance shareholder value," said Mr. Clark, Managing Director of CFG. "As one of our first actions, we were instrumental in the recent filing of a Schedule 13D with the SEC for etrials Worldwide. Representing approximately 20% of outstanding shares, these investors request that the etrials Board of Directors take immediate steps to enhance shareholder value and improve the growth strategy for the company. Among other actions to be taken, these investors recommend that a new stock purchase plan be implemented and that etrials consider strategic options including acquisitions or, conversely, solicitations for the company.
"etrials is one of the leading providers of eClinical technologies and services to the clinical trials industry. As evidenced by the recently-announced planned acquisition of ClinPhone Plc. by Parexel International Corporation, valuations of companies in this space are on the rise. etrials is a prime example of an organization that is undervalued relative to its industry peer group and needs to focus on improving its returns to shareholders; we look forward to assisting in this regard."
About Clark Financial Group
Clark Financial Group, LLC (CFG) of Chapel Hill, North Carolina, provides corporate finance and board advisory services that improve financial performance and enhance shareholder value. Led by Jim Clark, the firm offers financial reporting systems and analysis, M&A advisory services including due diligence assistance, capital and debt planning, private placement services, and restructuring counsel to investors and corporations nationwide.