Posted: 4 month(s) and 29 days(s) ago   |   0 Comment(s)   |   Rating: 0 0
Posted by: stocktrader247

Friday October 23, 2009

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Cbeyond, Inc. (NASDAQ: CBEY) announced today that the Superior Court of Fulton County, Georgia issued an order granting preliminary approval of the settlement of the previously disclosed derivative lawsuit captioned In re Cbeyond, Inc. Derivative Litigation. Although defendants continue to deny plaintiffs' allegations, the Company believes it is in the best interests of its stockholders to focus its attention on its business and put the matter behind it. The settlement is subject to final approval by the Court. As described in the attached Notice, the settlement provides, among other things, for payment of fees and expenses incurred by plaintiffs' counsel in the amount of $200,000 that will be paid by the Company's Directors' and Officers' insurance policy and will have no impact on Cbeyond's financial statements.

As a routine part of the settlement process, the Court has approved the publication of the Notice of Settlement set out below which contains additional details about the lawsuit and the settlement.

Pomerantz Haudek Grossman & Gross LLP (www.pomerantzlaw.com) ("Pomerantz") reminds investors in Direxion Shares ETF Trust ("Direxion" or the "Trust") (NYSEArca: FAZ), that November 17, 2009 is the deadline to request that the Court appoint you as Lead Plaintiff in the class action. Pomerantz filed a class action lawsuit in the United States District Court, Southern District of New York, against Direxion and certain of its top officials. The class action (09-CV-8375) was filed on behalf of persons or entities that purchased or otherwise acquired shares in the Financial Bear 3X Shares Fund (the "FAZ Fund") pursuant or traceable to the Registrations Statement, Prospectus and Statement of Additional Information issued in connection with the FAZ Fund's shares during the period of November 3, 2008 through April 9, 2009 inclusive, (the "Class Period"). The Complaint alleges violations of Sections 11 and 15 of the Securities Exchange Act, 15 U.S. C. Sections 77k and 77o.

TransAlta Corporation (TSX:TA) (NYSE:TAC) and Canadian Hydro Developers, Inc. (TSX:KHD) announced today TransAlta's wholly-owned subsidiary (the "Offeror") has completed the acquisition and payment for approximately 125 million common shares of Canadian Hydro Developers validly deposited and taken up pursuant to its offer (the "Offer") to acquire all of the outstanding common shares of Canadian Hydro Developers for $5.25 cash per share. These common shares represent approximately 87 per cent of the outstanding common shares of Canadian Hydro Developers.

The Board of Directors of Canadian Hydro Developers has today been reconstituted to include, from TransAlta, Dawn Farrell, Chief Operating Officer; Brian Burden, Chief Financial Officer; and Ken Stickland, Chief Legal Officer. Independent directors, Richard Ballantyne and David Stenason remain on the Canadian Hydro Developers board. The common shares of Canadian Hydro Developers will continue to trade on the TSX.

Power3 Medical Products, Inc. (OTCBB:PWRM - News), (www.power3medical.com), announced today that the company made significant advances in the technology for their BC-SeraPro serum protein based blood test for diagnosis of early stage breast cancer, as disclosed in recent filings of three pending US utility patent applications.

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