Key Developments: RadioShack Corp (RSH)
3.93USD
21 May 2013
$-0.21 (-5.07%)
$4.19
$4.13
$4.18
$3.89
3,590,968
2,433,994
$5.15
$1.90
Latest Key Developments (Source: Significant Developments)
RadioShack Corp Names Joseph C. Magnacca As Chief Executive Officer
RadioShack Corp announced that Joseph C. Magnacca has been appointed Chief Executive Officer of the Company effective February 11, 2013. Mr. Magnacca has also been named a member of RadioShack's Board of Directors. Full Article
RadioShack Corp Announces $100 Million Term Loan
RadioShack Corp announced that it has closed a new $100 million term loan through Wells Fargo Capital Finance, part of Wells Fargo & Company. The loan is secured by a second lien on the inventory and accounts receivable and other specific assets. The key terms of the transaction include a five-year term, an interest rate of 11% and an optional prepayment structure that allows for $10 million each year without a premium or in entirety with a prepayment penalty. Full Article
Law Firm of Levi & Korsinsky, LLP Announces Class Action Against RadioShack Corporation
Law Firm of Levi & Korsinsky, LLP announced that a class action lawsuit has been commenced in the US District Court for the Southern District of New York on behalf of investors who purchased RadioShack Corporation stock between July 26, 2011 through July 24, 2012. Full Article
RadioShack Corp CEO Steps Down-Reuters
Reuters reported that RadioShack Corp's Chief Executive James Gooch will step down effective immediately. Full Article
Levi & Korsinsky Announces Class Action Lawsuit Against RadioShack Corp
Levi & Korsinsky announced that a class action lawsuit has been commenced in the US District Court for the Southern District of New York on behalf of investors who purchased RadioShack Corp stock between July 26, 2011 through July 24, 2012. The Complaint alleges that RadioShack and CEO James F. Gooch made materially misleading statements regarding the Company's business and financial condition. The complaint states that during the Class Period defendants allegedly claimed they were successfully executing a strategic shift wherein RadioShack was transitioning from a seller of consumer electronics to a reseller of wireless products. According to the complaint, defendants repeatedly emphasized returning value to shareholders by funding the stock repurchase program and dividends. Then on July 25, 2012, the Company reported a net loss of $21 million for its second quarter earnings and suspended its dividends. As a result of this announcement, RadioShack shares fell almost 35 percent to close at $2.60 per share on July 25, 2010. Full Article
Faruqi & Faruqi, LLP Announces Investigation Of Potential Securities Fraud At RadioShack Corp
Faruqi & Faruqi, LLP, a national securities law firm, announced that it is investigating potential securities fraud at RadioShack Corp. The investigation focuses on whether RadioShack and its executives issued materially false and misleading statements regarding the Company's business and financial condition. RadioShack executives claimed that they were successfully executing a strategic shift whereby RadioShack was transitioning from a seller of consumer electronics to a reseller of wireless products. Company executives repeatedly emphasized returning value to shareholders by funding RadioShack's stock repurchase program and investor dividends. On July 25, 2012, the Company reported a net loss of $21 million for its second quarter earnings and suspended its dividends. As a result of this announcement, RadioShack shares fell almost 35% to close at $2.60 per share on July 25, 2012. Full Article
RadioShack Corp Suspends Dividend-Reuters
Reuters reported that RadioShack Corp has decided to suspend its dividend to use some of that cash to pay down near-term debt. Full Article
RadioShack Corp Declares Dividend
RadioShack Corp announced that its Board of Directors has declared a second-quarter cash dividend of $0.125 per share on the Company's common stock, payable on June 22, 2012, to shareholders of record at the close of business on June 1, 2012. Full Article
RadioShack Corp Declares Quarterly Dividend
RadioShack Corp announced that its Board of Directors have declared a first-quarter cash dividend of $0.125 per share on the Company's common stock, payable on March 30, 2012, to shareholders of record at the close of business on March 16, 2012. Full Article
RadioShack Corp Comments On Q4 2011 Revenue Guidance; Issues Q4 2011 EPS Guidance Below Analysts' Estimates
RadioShack Corp announced preliminary, unaudited results and expects fourth quarter 2011, consolidated gross profit as a percent of net sales to be approximately 35%. Diluted earnings per share expected to be in the range of $0.11 to $0.13. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $1.350 billion and EPS of $0.37 for the fourth quarter of 2011. Full Article
PayPal to increase marketing this year for offline push
SAN FRANCISCO - PayPal, the online payment operation owned by eBay Inc, will increase marketing spending to support its push into physical stores, President David Marcus said on Tuesday.
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