Monthly Archives: October 2010

Accentia Plan Confirmed

Accentia Biopharmaceuticals, Inc. (OTCQB: ABPIQ) today announced that at a hearing held on October 27, 2010, the Company’s Plan of Reorganization was confirmed (i.e., approved) by the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division. Accentia is scheduled to emerge from Chapter 11 as a fully restructured company by mid-November 2010.

Stamps.com Paying Special Dividend

LOS ANGELES, CA–(Marketwire – 10/28/10) – Stamps.com® (NASDAQ:STMP – News) today announced that its Board of Directors has declared a one-time special dividend of $2.00 per share to shareholders of record as of the close of business on November 11, 2010, to be paid on December 2, 2010. The Board of Directors approved the special dividend to distribute excess cash from the Company’s capital structure, and to allow the Company’s shareholders to take advantage of the current low dividend tax rate.

Renaissance Learning Declares Special Dividend

October 27, 2010 – Renaissance Learning®, Inc. (Nasdaq:RLRN – News), a leading provider of technology-based school improvement and student assessment programs for K12 schools, announced that its Board of Directors declared a special cash dividend of $2.00 per share in addition to its regular quarterly cash dividend of $.08 per share, both payable December 1, 2010 to shareholders of record as of November 12, 2010.

SunHealthcare Announces Distribution Date

Sun Healthcare Group, Inc. Announces Anticipated Record and Distribution Dates in Connection With Its Restructuring Plan IRVINE, CA, Oct 26, 2010 (MARKETWIRE via COMTEX) — Sun Healthcare Group, Inc. (NASDAQ: SUNH) today announced details concerning the anticipated timing of Sun’s previously announced plan to restructure its business by separating its operating assets and its real…

XERECEPT Revived

I will warn you that reading this post will take a little patience and its about a micro cap stock, to boot. Back in early 2009, when most of us were sweating over the security of our FDIC-insured checking accounts (remember those days?), dozens of small biotechs were trading for pennies on the Dollar. Dollar…

Burkle’s Yucaipa Amends Offer for Simon Worldwide

Overseas Toys, L.P.c/o The Yucaipa Companies9130 West Sunset Blvd.Los Angeles, California 90069 October 22, 2010 Members of the Board of Directors of Simon Worldwide, Inc. (“Simon” or the “Company”) c/o the Special Committee of Independent Directors: Reference is made to our October 13, 2010 letter to the Company’s Board of Directors in which Overseas Toys,…

S Squared Wants Nominee on Openwave Board

Item 4. Purpose of Transaction. On September 16, 2010, in a telephone call with Charles Levine, Chairman of the Board of Directors of the Issuer (the “Board”), Wesley L. Golby, a portfolio manager of SST, asked whether the Issuer would be interested in adding a board member who has capital markets experience. Mr. Levine said…

MMI Investments Supports Sale of Applied Signal

Item 4. Purpose of Transaction. MMI Investments purchased the Shares as part of its investment activities based on its belief that the Issuer’s competitive advantages and growth prospects are undervalued by its stock price. MMI Investments further believes that this undervaluation is unlikely to improve on a sustainable basis while the Issuer remains an independent…

Visteon holders could sell up to $2.94B in stock

Source AP: Auto supplier Visteon Corp. took steps Friday that will allow some of its current shareholders to sell as much as $2.94 billion in stock. The company, which emerged from Chapter 11 bankruptcy protection earlier this month, filed a registration statement with the Securities and Exchange Commission that would allow the shareholders to sell…

TerreStar’s Plan Support Agreement

Plan and Plan Support Agreement On October 19, 2010, TerreStar Networks Inc., a majority-owned subsidiary of TerreStar Corporation (the “Company”), the Company, and certain of TerreStar Networks’ affiliates (collectively, the “Plan Support Agreement Signatories”) entered into a Plan Support Agreement with EchoStar Corporation (“EchoStar”), in its capacity as (a) holder of a majority of the…

Chemtura’s Plan of Reorganization Confirmed

Chemtura Corporation, debtor-in-possession (Pink Sheets: CEMJQ) (the “Company” or “Chemtura”), today announced that the United States Bankruptcy Court for the Southern District of New York (the “Court”) issued a decision confirming its Plan of Reorganization (the “Plan”). The Plan will become effective after the Court enters a written order reflecting this ruling and other Plan…

Value Line Declares Special Dividend

NEW YORK, Oct. 22 /PRNewswire-FirstCall/ — Value Line, Inc. (Nasdaq:VALU – News), a leading New York-based publishing and investment management company, announced today that its Board of Directors approved on October 21, 2010 a special dividend of $2.00 per common share of Value Line, payable on November 12, 2010 to shareholders of record on November…

Progressive Announces Extraordinary Cash Dividend

The Progressive Corporation today announced that its Board of Directors has declared an extraordinary cash dividend of $1.00 per Common Share, payable December 29, 2010 to shareholders of record at the close of business on December 20, 2010. Glenn M. Renwick, the Company’s President and Chief Executive Officer commented: “We are pleased to return approximately…

Record Date for Howard Hughes Spinoff Set

10/21/2010 – General Growth Properties, Inc. today announced November 1, 2010, is the record date for the distribution of shares of the two separate publicly traded corporations that will exist following GGP’s emergence from bankruptcy. Pursuant to GGP’s plan of reorganization, each holder of a share of “old” GGP common stock as of the record…

Seneca Files Proxy Opposing Dynegy Sale

NEW YORK, October 21 – Seneca Capital today issued the following statement regarding the proposed acquisition of Dynegy Inc. (NYSE: DYN): Seneca Capital, a beneficial owner of 9.3% of Dynegy Inc.’s outstanding common shares through its affiliated funds, today filed a preliminary proxy statement on Schedule 14A with the Securities and Exchange Commission in connection…

ModusLink Announces Settlement Agreement

ModusLink to expand board and increase the Company’s commitment to capital distribution to stockholders to $40 million during 2011. ModusLink Global Solutions(TM), Inc. (NASDAQ: MLNK), today announced that it has reached an agreement with LCV Capital Management, LLC, Raging Capital Management, LLC and certain of their affiliates in connection with the Company’s 2010 Annual Meeting…