Key Developments For Forgent Networks, Inc.
Forgent Networks, Inc. (ASUR.O) (Consolidated Issue listed on NASDAQ Capital Market)
Forgent Networks, Inc. Comments On Q1 2010 Guidance
Forgent Networks, Inc. announced that for first quarter of 2010, it expects revenue to hold flat due to new business the Company have won and anticipate that EBITDA to be neutral after excluding the one-time charges and despite $375K in quarterly negative cash flows related to Austin headquarters lease.
Forgent Networks, Inc. Announces Resignation Of Nancy Harris As President And CEO-Form 8-K
Forgent Networks, Inc. reported in its Form 8-K that on September 8, 2009, Nancy Harris tendered a letter of resignation as President and Chief Executive Officer (CEO) of the Company, effective September 30, 2009. On September 15 th, the Company appointed Pat Goepel as Interim CEO, effective as of October 1, 2009.
Asure Software Reduces Headcount By About 25%
Asure Software announced that it reduced headcount by about 25% at the end of the fourth quarter 2009. The headcount reduction will save the Company nearly $2 million annually and is part of on-going cost reductions.
Federal Court Sets Hearing Date On Motion For Preliminary Injunction In Asure Software v. Red Oak Partners Case
Asure Software announced that it has received notice that the United States District Court for the Western District of Texas set the hearing date on its motion for preliminary injunction in its federal lawsuit against Pinnacle Partners LLLP, Red Oak Partners LLC, et al, for August 24, 2009. The hearing is scheduled to occur four days prior to Asure Software's annual shareholder meeting, which is currently scheduled for August 28, 2009. Asure sued Pinnacle and certain other stockholders who have been acting in concert with Pinnacle because, as alleged in the lawsuit, they have, collectively, violated the federal securities laws by failing to disclose the existence of their group. The lawsuit is intended to force compliance with the federal securities laws. In addition to the hearing date, the Court ordered that all discovery on the application for preliminary injunction and any additional briefing in support or in opposition of the application for preliminary injunction shall be completed and filed with the Court on or before August 20, 2009.
Asure Software Responds to Pinnacle Fund and Red Oak Partners' Proposed Settlement
Asure Software responded to a proposed settlement of the lawsuit the Company recently filed in Federal Court against Pinnacle Fund, Red Oak Partners and their affiliates. The Company sued Pinnacle and certain other stockholders who have been acting in concert with Pinnacle because, as alleged in the lawsuit, they have, collectively, violated the federal securities laws by failing to disclose the existence of their group. The lawsuit is intended to force compliance with the federal securities laws.
