Key Developments: ModusLink Global Solutions Inc (MLNK.O)
2.63USD
19 Jun 2013
$-0.08 (-2.95%)
$2.71
$2.64
$2.72
$2.63
128,369
137,503
$3.96
$2.10
Latest Key Developments (Source: Significant Developments)
ModusLink Global Solutions Inc and Newton Circus Join Forces to Increase Digital Inclusion
ModusLink Global Solutions Inc and Newton Circus announced a collaboration to provide senior citizens high quality, renewed smartphones with a suite of apps known as Silverline, designed to connect them to the digital world. Based in Singapore, with contributors across the globe, Newton Circus develops creative, environmentally-sound and people-focused business projects across a number of industries. For its newest endeavor, Newton Circus has selected ModusLink to provide global supply chain management capability and for its rigorous standards in electronics repair and recovery. Full Article
ModusLink Global Solutions Inc Comments On Q3 2013 Revenue Guidance-Conference Call
ModusLink Global Solutions Inc announced that it expects the level of revenue in the second quarter 2013 from the major product launch from the software client will not continue in the third quarter of 2013. Based on those factors, the Company do not expect the year-over-year revenue growth it experienced this quarter to repeat in the third quarter of 2013. Full Article
CLIQ Digital Selects ModusLink Global Solutions Inc For Mobile Gaming And Entertainment Applications Support
ModusLink Global Solutions Inc and CLIQ Digital announced an agreement for ModusLink to provide live support services for CLIQ Digital`s mobile entertainment and gaming customers across Asia. CLIQ Digital`s products include free and premium games, content subscriptions and advertising and lead-generation programs. From a single centralized contact center in Singapore, ModusLink will manage incoming technical and billing questions from CLIQ`s customers throughout the region in English, Bahasa, Mandarin and Cantonese. Full Article
ModusLink Global Solutions Inc Issues Q2 2013 Revenue Guidance-Conference Call
ModusLink Global Solutions Inc announced that for the second quarter of 2013, the Company expects revenues to be in line with or modestly higher than revenue of $178 million reported in the second quarter of 2012. Full Article
ModusLink Global Solutions Inc Names John J. Boucher as New President and CEO
ModusLink Global Solutions Inc announced that John J. Boucher, 53, will become its President and Chief Executive Officer. Boucher, who brings more than 30 years of supply chain management experience to his new role, is expected to join the Company on January 28, 2013. Full Article
Faruqi & Faruqi, LLP Announces Investigation Of Potential Securities Fraud At ModusLink Global Solutions Inc
Faruqi & Faruqi, LLP, a national securities law firm, announced that it is investigating potential securities fraud at ModusLink Global Solutions Inc. The investigation focuses on whether ModusLink and its executives violated federal securities laws by failing to disclose that: (1) the Company was improperly accounting for volume discount rebates provided by vendor companies; (2) ModusLink's financial statements between the fall of 2007 and summer of 2012 did not present an accurate presentation of the Company's finances and operations, with Company financial results not being prepared in accordance with the Generally Accepted Accounting Principles; and (3) the Company lacked adequate internal and financial controls. Full Article
Levi & Korsinsky Notifies Investors With Losses On Their Investment In ModusLink Global Solutions Inc Of Class Action Lawsuit And Deadline Of August 13, 2012 To Seek Lead Plaintiff Position
Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of investors who purchased ModusLink Global Solutions, Inc. securities between September 26, 2007 and June 8, 2012. The Complaint alleges that the Company and certain of its executive officers misrepresented or failed to disclose that: the Company’s accounting for rebates associated with volume discounts provided by vendors was improper and misleading; the Company’s financial statements during the Class Period did not provide a fair presentation of the Company’s finances and operations; the Company’s financial results were not prepared in accordance with GAAP; the Company lacked adequate internal and financial controls; and as a result of the above, the Company’s financial statements were materially false and misleading. On June 11, 2012, ModusLink announced it received an inquiry from the SEC relating to the Company’s accounting treatment of rebates and expects to restate its audited financial statements from fiscal years 2009 through 2011, the first two quarters of fiscal 2012 and its unaudited selected financial data for 2007 and 2008. In reaction, ModusLink shares dropped 34% from $4.26 on June 8, 2012 to close at $2.78 on June 11, 2012. Full Article
Glancy Binkow & Goldberg LLP Announces That Class Action Lawsuit Against ModusLink Global Solutions, Inc. Has Been Filed And Lead Plaintiff Deadline Is August 13, 2012
Glancy Binkow & Goldberg LLP announced that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of all purchasers of the common stock of ModusLink Global Solutions, Inc. between September 26, 2007 and June 8, 2012, inclusive (the Class Period), alleging violations of the Securities Exchange Act of 1934 (the Complaint). The Complaint alleges that the Company and certain of its executive officers, in violation of federal securities laws, issued false and/or misleading statements concerning the Company’s business and financial prospects. According to the Complaint, the defendants misrepresented or failed to disclose that: (1) the Company’s accounting for rebates associated with volume discounts provided by vendors was improper and misleading; (2) the Company’s financial statements during the Class Period did not provide a fair presentation of the Company’s finances and operations; (3) as a result, the Company’s financial results were not prepared in accordance with Generally Accepted Accounting Principles; (4) the Company lacked adequate internal and financial controls; and (5), as a result of the above, the Company’s financial statements were materially false and misleading at all relevant times. Full Article
Milberg LLP Reminds Shareholders Of August 13, 2012 Lead Plaintiff Deadline In Securities Class Actions Against ModusLink Global Solutions
Milberg LLP announced that class action lawsuits were filed in the United States District Court for the District of Massachusetts on behalf of purchasers of ModusLink Global Solutions, Inc. common stock between September 26, 2007 through June 8, 2012, (the Class Period). The complaint claims ModusLink misled investors because it failed to disclose that the Company’s accounting for rebates was improper. On June 11, 2012, ModusLink announced that it will restate financial results going back to 2007 and that its Audit Committee investigation found that certain client contracts were consistently misaligned with the Company’s practice of retaining volume discounts. Full Article
Sofrigam SA Chooses ModusLink Global Solutions Inc As Value Added Warehousing Partner
ModusLink Global Solutions Inc announced an agreement with Sofrigam SA to provide key warehousing, fulfillment and transportation services for Sofrigam’s world-class pharmaceutical cold chain packaging products. ModusLink will help Sofrigam position their product closer to key customer sites and manage more frequent inventory call offs in line with customer demand. Full Article
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