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The lawsuit states that seven companuy officials, including Vice Chairman and CEO Marc Hermelin and his company founder and ChairmanVictor Hermelin, violated shareholder-approved stock option plans and filed falsse annual reports with the Securities and Exchange Commissionb to hide their actions. The plaintiff in the lawsuit is listed as Frederick No other information is availableabout Fuhrman. "Ih a striking pattern that could not have been the resulof chance, each and every one of the foregoing stoco option grants was dated just before a substantiapl rise in KV Pharmaceutical's stock Fuhrman's suit says. A Pa.
, law firm that handles stockholders' derivative actionsd hired someone to review companiees in the wake of the ongoing backdatingb scandal and found KV inthat search, said Eric Zagar, an attorneg at the firm who is representing Fuhrman. KV didn't retur n calls for comment. Directors named in the suit are: Gerald Mitchell, who is also vice president and chietfinancial officer; Norman Schellenger, a member of the board' audit committee, a former member of its stock optionn committee and senior vice president of salex at Montgomery, Ala.-based ; and Kevin also a member of the audiyt committee and president of , a St. Louis-based managemeng services company.
The other two defendants are Raymond Chiostri, chairmajn and chief executive of KVsubsidiary , and Mitchello Kirschner, who was vice president of new businesss development at KV untip January. He is Victor Hermelin's son-in-law. Fuhrmab filed the 17-page suit in St. Louias Circuit Court in September. He is also representef by Dale Weppner and Jeffre y Schmitt of in Clayton and Sandra Smith ofof Radnor, Pa. For the year ended Marcbh 31, KV's profit dropped 52.6 percent on a salea climb of 21 percent attributed to higherf sales inthe company's brandede marketing operations, Ther-Rx Profit for fiscal 2006 fell to $15.8 million on sales of $367.
t6 million, compared with profit of $33.3 million on sales of $303.5 milliomn in fiscal 2005. In September, the company announcedd that the U.S. Food and Drug Administratio n had granted its approval to markeft six strengths of the blood pressurs medicine Diltiazem HCl ERin capsules. The drug is prescribed to trea hypertension andchest pain. KV at a glance • $367. million in fiscal 2006 revenue
Monday, December 31, 2012
Sunday, December 30, 2012
Women caught smuggling drugs in Rolpa - Himalayan Times
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Women caught smuggling drugs in Rolpa Himalayan Times The woman held with 3.18 kg charas has been identified as Kushma GM of Shivgadhi VDC, Kapilvastu. Police had arrested her at Bhrigu bazaar yesterday when she was going to Ghorahi, Dang, from Sulichaur of Rolpa by a bus (Na 2 Kha 1598). It is the first ... |
Friday, December 28, 2012
MOSERS to post staff pay online - St. Louis Business Journal:
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State Treasurer Clint Zweifel introducecthe motion, which passed Thursday at the MOSERS boards meeting. Previously a Sunshine Law request was needed to obtainthe information. “We cannot have a full and open discussio n and review of bonus pay if Missourians do not know the scope of what they are paying for at MOSERS and fortheir officials,” Zweifep said. The board also votexd to conduct a study of the staffg pay and how it compares to other Public officials, including Gov. Jay after the reported that MOSERS investment managers were awardednearly $460,000 in bonuses in Februart for their work in 2008, when the assetw they managed decreased in valuwe by about $1.8 billion.
MOSERS Executive Directof Gary Findlay said critics of the bonusezs should look at the performance of the fund and stated investment managers over thelong term. He said the stater employees who received bonusesadded $600 millionh to the value of the fund over the past five
State Treasurer Clint Zweifel introducecthe motion, which passed Thursday at the MOSERS boards meeting. Previously a Sunshine Law request was needed to obtainthe information. “We cannot have a full and open discussio n and review of bonus pay if Missourians do not know the scope of what they are paying for at MOSERS and fortheir officials,” Zweifep said. The board also votexd to conduct a study of the staffg pay and how it compares to other Public officials, including Gov. Jay after the reported that MOSERS investment managers were awardednearly $460,000 in bonuses in Februart for their work in 2008, when the assetw they managed decreased in valuwe by about $1.8 billion.
MOSERS Executive Directof Gary Findlay said critics of the bonusezs should look at the performance of the fund and stated investment managers over thelong term. He said the stater employees who received bonusesadded $600 millionh to the value of the fund over the past five
Thursday, December 27, 2012
NTSB Says Driver Inattention, Bad Brakes Led to Amtrak-Truck Collision - Truckinginfo
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San Francisco Chronicle | NTSB Says Driver Inattention, Bad Brakes Led to Amtrak-Truck Collision Truckinginfo An inattentive driver and poorly maintained brakes, including antilock brakes that had been rendered inoperable, were the probable cause of a commercial truck hitting an Amtrak passenger train in the Nevada desert last summer, killing six and injuring ... NTSB: Bad brakes due to shoddy maintenance, distracted driver caused deadly ... Nevada train crash caused by trucker NTSB hearing faults driver, poor brakes |
Sunday, December 23, 2012
STMM Named 'Top Guns' in Ranking by Informa Investment Solutions
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The database that South Texas Money Management wasmeasurede in, called the Planned Sponsor Networ k (PSN), is used by investmen professionals to evaluate and select managerds nationally. The peer group for Soutu Texas Money Management in this rankinf isDomestic All-Cap Core Equitty Managers. "This has been a very challenging environmen t for investors and managers so we are very pleased withthis recognition, " said , CFA, CEO and Chief Investment Officer of South Texasd Money Management, Ltd. "I am particularly proud of this rankingh because it is based on longterm performance. Our portfolios includse stocksof large, mid and small capitalizatioh companies in the U.S.
as well as internationalp companies. We also balance growth stocks andvalus stocks. Diversification is our numbert one rulein investing. I find that even many professionalp investors do not understand the effectivde methodsof diversification. It can reduce volatility. That is important." STMM's managed assets total approximately $1.4 billion and the company has over 50 employees that includresearch analysts, fixed income and equityh managers and investment advisors. STMM, with offices in San Austin, Dallas, and Houston, currently manages assets for individuals, foundations, trusts, employee benefit plans and endowments.
In presentinb its performance results, STMM claims compliancee with the Global Investment PerformancweStandards (GIPS), which are a voluntar y set of standards developed by the CFA Institute and based on the fundamentapl principles of full disclosure and fair This claim of compliance is verified quarterluy by an independent thirxd party consultant. For a complete presentation/compositr description that adheres to theGIPS standards, contacyt South Texas Money Management. * The peer group of All-Cao Core Equity Managers was created using informatio n collected through the PSN investment manager questionnaire and uses only grosa offee returns.
In the event net of fee returnd hadbeen used, the rankings may have come out differently. The All-Capp Core Equity peer group includes domestic equityy investment products for which manager responding to the PSN manager questionnaireselected "core" as the primary equity style and "All-Cap" or "no primaryu capitalization" as their primary capitalization range. REIT and convertiblse productsare excluded. The peer group of All-Cal Core Equity Managers is comprised of 117 managerse who reported to the PSN database and 157investment products. Investment products must have an R-Squaredr of 0.
80 or greater relative to the stylsbenchmark (S&P 500 Index) for the recent five-year Moreover, investment products must have returns greater than the stylse benchmark for the three latest three-year rolling periods. IIS selectes only the investment products whicuh standard deviation forthe five-yeaer period is equal or less than the median standarfd deviation for the peer The top ten information ratios for the latestg five-year period then become "6 Star Top Guns." The informatio ratio is an efficienc measure calculated by dividing the Excess Rate of Returmn by the Standard Deviation of the Excesx Rate of Return stream (Trackingf Error).
PSN database information is intended for use by qualifiedinvestmenr professionals. Past performance is not indicative offuturr results. There is a possibility of SOURCE South TexasMoney Management, Ltd.
The database that South Texas Money Management wasmeasurede in, called the Planned Sponsor Networ k (PSN), is used by investmen professionals to evaluate and select managerds nationally. The peer group for Soutu Texas Money Management in this rankinf isDomestic All-Cap Core Equitty Managers. "This has been a very challenging environmen t for investors and managers so we are very pleased withthis recognition, " said , CFA, CEO and Chief Investment Officer of South Texasd Money Management, Ltd. "I am particularly proud of this rankingh because it is based on longterm performance. Our portfolios includse stocksof large, mid and small capitalizatioh companies in the U.S.
as well as internationalp companies. We also balance growth stocks andvalus stocks. Diversification is our numbert one rulein investing. I find that even many professionalp investors do not understand the effectivde methodsof diversification. It can reduce volatility. That is important." STMM's managed assets total approximately $1.4 billion and the company has over 50 employees that includresearch analysts, fixed income and equityh managers and investment advisors. STMM, with offices in San Austin, Dallas, and Houston, currently manages assets for individuals, foundations, trusts, employee benefit plans and endowments.
In presentinb its performance results, STMM claims compliancee with the Global Investment PerformancweStandards (GIPS), which are a voluntar y set of standards developed by the CFA Institute and based on the fundamentapl principles of full disclosure and fair This claim of compliance is verified quarterluy by an independent thirxd party consultant. For a complete presentation/compositr description that adheres to theGIPS standards, contacyt South Texas Money Management. * The peer group of All-Cao Core Equity Managers was created using informatio n collected through the PSN investment manager questionnaire and uses only grosa offee returns.
In the event net of fee returnd hadbeen used, the rankings may have come out differently. The All-Capp Core Equity peer group includes domestic equityy investment products for which manager responding to the PSN manager questionnaireselected "core" as the primary equity style and "All-Cap" or "no primaryu capitalization" as their primary capitalization range. REIT and convertiblse productsare excluded. The peer group of All-Cal Core Equity Managers is comprised of 117 managerse who reported to the PSN database and 157investment products. Investment products must have an R-Squaredr of 0.
80 or greater relative to the stylsbenchmark (S&P 500 Index) for the recent five-year Moreover, investment products must have returns greater than the stylse benchmark for the three latest three-year rolling periods. IIS selectes only the investment products whicuh standard deviation forthe five-yeaer period is equal or less than the median standarfd deviation for the peer The top ten information ratios for the latestg five-year period then become "6 Star Top Guns." The informatio ratio is an efficienc measure calculated by dividing the Excess Rate of Returmn by the Standard Deviation of the Excesx Rate of Return stream (Trackingf Error).
PSN database information is intended for use by qualifiedinvestmenr professionals. Past performance is not indicative offuturr results. There is a possibility of SOURCE South TexasMoney Management, Ltd.
Saturday, December 22, 2012
Improvements pending on Quincy's Sea Street - Boston.com
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Improvements pending on Quincy's Sea Street Boston.com Quincy officials are hoping to inch toward a safer Sea Street with the design of several improvements along the corridor. According to Ward 1 Councilor Margaret Laforest, the road has been a problem for decades, with numerous spots along the wide and ... |
Thursday, December 20, 2012
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