New Law Blogs

Sandisk And Samsung Renew Patent Cross License And Flash Supply Agreements

Posted on May 28, 2009
The new patent cross-license agreement includes rights to each party's patents broadly covering multi-level cell flash memory and flash storage systems, but does not license either party's patent claims specific to 3-D memory technology. Over the life of the new license, the estimated effective rate of the fixed payments and royalties is expected to be approximately half of the effective rate in...

Foundation Coal And Alpha Natural Resources Announce Successful Amendment of Foundation Credit Agreement

Posted on May 27, 2009
Consent to amend the Foundation Credit Agreement marks an important step towards completion of the merger of Alpha Natural Resources and Foundation Coal LINTHICUM HEIGHTS, Md. and ABINGDON, Va., May 27, 2009 – Foundation Coal Holdings Inc. (NYSE:FCL) and Alpha Natural Resources, Inc...

Sumtotal Announces Agreement To Be Acquired BY Vista Equity Partners For $4.85 Per Share In Cash

Posted on May 27, 2009
MOUNTAIN VIEW, Calif. – May 27, 2009 – SumTotal® Systems, Inc. (NASDAQ: SUMT) ("SumTotal" or "the Company"), the market leader and a global provider of talent development solutions, today announced that it has entered into a definitive merger agreement with affiliates of Vista Equity Partners Fund III, L...

Animas Renegotiates Property Agreements, Sells Bacanuchi Prospect, And Reduces Non Essential Land Holding

Posted on May 26, 2009
Animas Resources Ltd. (TSX.V: ANI) ("Animas" or the "Company") is pleased to report our continuing efforts to reduce costs and focus on the development and exploration activities in the Santa Teresa District.

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Nanjinzhao Requests Revisions To Pampa De Pongo Purchase Agreement Declines To Pay Usd 10 Million Deposit For Pampa De Pongo Iron Ore Deposit Unless Purchase...

Posted on May 26, 2009
Negotiations among the parties are ongoing, and Cardero will provide further news as soon as available. However, there can be no certainty that the agreement will be successfully amended or that any purchase price that may be agreed will not be significantly lower than USD 200 million.

Broadridge Acquires Access Data Corp. Acquisition Expands Broadridge's Solutions For Mutual Fund Industry

Posted on May 21, 2009
The acquisition is a strategic expansion of Broadridge's role as an investor communications hub, and its data aggregation and data management solutions for the mutual fund industry. The combination of Access Data's proprietary applications and Broadridge's unique data aggregation capabilities will provide significant value to mutual funds and financial intermediaries.

Star Gas Partners Amends Amended And Restated Unit Purchase Rights Agreement

Posted on May 21, 2009
The Second Amendment amends the definition of "Acquiring Person" under the Agreement to restore the acquisition threshold to 15% of the outstanding Common Units. The First Amendment had reduced the acquisition threshold to 5% in order to protect the Partnership's Net Operating Loss Carryforwards (NOLs) for federal income tax purposes by discouraging any Person or group from acquiring more than 5%.

Lorus Therapeutics Announces A Cooperative Research And Development Agreement With The U.s. National Cancer Institute

Posted on May 19, 2009
- Preclinical evaluation of Lorus? RNA-targeted drugs as part of a novel therapeutic strategy for Renal Cell Carcinomas - TORONTO, CANADA - May 19, 2009 - Lorus Therapeutics Inc. (TSX: LOR) (?Lorus?), a biopharmaceutical company specializing in the research and development of pharmaceutical products and technologies for the management of cancer, today announced extension of a cooperative...

The Castle Group, Inc. Announces New Resort Rental Management Contracts At 4 Properties And Financial Results For First Quarter of 2009

Posted on May 15, 2009
Honolulu, Hawaii – The Castle Group, Inc. (OTCBB: CAGU) holding company for Castle Resorts & Hotels, today announced that it had secured new resort rental management contracts for four properties on Molokai and Kauai as well as financial results for the first quarter of 2009.

Cytec Announces Amendment To Credit Agreement Stock Contribution To Pension Master Trust

Posted on May 15, 2009
In addition, on May 13, the Company contributed a combined amount of approximately 1.2 million shares of Cytec stock to the four plans in its U.S. pension master trust. This contribution will increase the funded status of these plans while significantly reducing the cash contributions from the company.

Nanogen Enters Asset Purchase Agreement With Elitech

Posted on May 15, 2009
SAN DIEGO (May 14, 2009) – Nanogen, Inc. (Pink Sheets: NGEN), developer of molecular and rapid diagnostic products, today announced that it has executed an asset purchase agreement with The Elitech Group ("Elitech"), a privately held diagnostics company, to acquire substantially all of the assets of Nanogen...

Alternative Asset Management Acquisition Corp. To Acquire Great American Group, LLC

Posted on May 14, 2009
AAMAC is a special purpose acquisition company. Great American is a leading provider of asset disposition and valuation and advisory services to a wide range of retail, wholesale and industrial clients, as well as lenders, capital providers and professional service firms...

Amendment To Joint Development Agreement

Posted on May 13, 2009
LG Display Co., Ltd., a Korean corporation having its principal office at 17th FI., LG Twin Tower (West Tower), 20 Yoido-dong, Youngdungpo-gu, Seoul 150-721, Korea ("LGD") and Unidym, Inc. a Delaware corporation having its principal office at 1430 O'Brien Drive, Suite G, Menlo Park, California 94025, U...

Caraustar Industries, Inc. Reports First Quarter 2009 Results; Reaches Agreement To Extend Revolving Credit Facility

Posted on May 05, 2009
Total paperboard volume for the first quarter of 2009 decreased approximately 73.4 thousand tons, or 31.4 percent, compared to the same quarter last year. The decrease was attributable to 33.4 thousand tons of lower gypsum facing paper and other specialty paperboard tons from PBL (Premier Boxboard Limited LLC), which membership interest was sold on July 24, 2008, an 8...

Epl Announces Agreement With Senior Noteholders And Files For Reorganization Under Chapter 11 of The U.s. Bankruptcy Code

Posted on May 05, 2009
New Orleans, Louisiana, May 1, 2009… Energy Partners, Ltd. ("EPL" or, the "Company") (Pink Sheets: ERPL.PK) announced today that it and certain of its domestic subsidiaries have filed voluntary petitions for reorganization (the "Chapter 11 Cases") under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division...

Stellar Pharmaceuticals Inc. Signs Licensing Agreement For Distribution And Sale of Uracyst® In Italy

Posted on May 05, 2009
LONDON, Ontario May 5, 2009 – Stellar Pharmaceuticals Inc. ("Stellar") (OTCBB:SLXCF), a Canadian pharmaceutical developer and marketer of high quality, cost-effective products for select health care markets, today reported signing a licensing agreement for the distribution and sale of Uracyst® in Italy with SIGMAR ITALIA S...

Keegan Resources Inc. Announces $14.4 Million "bought Deal" Financing

Posted on May 05, 2009
The Common Shares to be sold under this offering will be offered by way of a short form prospectus in the Provinces of British Columbia, Alberta and Ontario and the Common Shares to be sold under this offering will be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

Newcrest Terminates Exploration Funding Agreement On Miranda's Horse Mountain Project

Posted on May 05, 2009
Vancouver, BC, Canada – May 4, 2009 – Miranda Gold Corp. ("Miranda") (TSX-V: MAD) announces the termination of its exploration funding agreement with Newcrest Resources Inc. ("Newcrest") on the Horse Mountain project. Newcrest spent in excess of $900,000 on exploration on the project since May 28, 2008, and drilled a total of 18,240 ft (5560 m).

Kindred Healthcare Announces Lease Renewals With Ventas, Inc. And Agreement To Acquire Six Under-performing Assets For Resale

Posted on May 04, 2009
LOUISVILLE, Ky. (April 30, 2009) – Kindred Healthcare, Inc. ("Kindred") (NYSE:KND) today announced that it has provided Ventas, Inc. ("Ventas") (NYSE:VTR) with notices to renew the master lease agreements for an additional five years for 87 nursing centers and 22 long-term acute care ("LTAC") hospitals (collectively, the "Renewal Facilities")...

Imergent Reports Fiscal Third Quarter 2009 Financial Results

Posted on May 04, 2009
Income from operations for the third quarter of fiscal 2009 increased 65% to $1.2 million from $737,000 in the same quarter last year due primarily to the implementation of cost saving initiatives which significantly reduced our selling and marketing expenses...

Emergency Filtration Products Inc. Changes Name To Nano Mask, Inc. Shareholders Approve Name Change And Increase In Authorized Shares

Posted on May 01, 2009
Manteca, CA – May 1, 2009 -- Emergency Filtration Products, Inc. (Other OTC: EMFP) today announced that shareholders have voted to change the company's name to Nano Mask, Inc., which better reflects the company's core business of developing, marketing, and producing its core product, the NanoMask?...

Central European Distribution Corporation Signs Binding Agreement To Increase Its Ownership In The Russian Alcohol Group, The Leading Vodka Producer In...

Posted on April 30, 2009
Bala Cynwyd, Pennsylvania, April 24, 2009: Central European Distribution Corporation (Nasdaq: CEDC) today announced that it has signed binding agreements with Lion Capital LLP ("Lion") and certain of Lion's affiliates to increase CEDC's ownership in the Russian Alcohol Group ("Russian Alcohol"), the leading vodka producer in Russia, including an agreement regarding the acquisition by CEDC of the...

Environmental Power Announces Investment BY Technology Provider Xergi A/S And New Cooperation Agreement

Posted on April 28, 2009
Under the terms of the new agreement, EPG and its wholly owned subsidiary, Microgy, Inc., will continue to have exclusive licensing rights for Xergi's anaerobic digester technology in North America, while reducing the license fees on Microgy's current and future projects...

Naf Holdings Ii, LLC Announces Termination of Tender Offer For Hampshire Group, Limited And Termination of Agreement And Plan of Merger

Posted on April 27, 2009
NEW YORK, NY (April 27, 2009) -- NAF Holdings II, LLC today announced that its previously announced cash tender offer, through its wholly-owned subsidiary, NAF Acquisition Corp., for all outstanding shares (?Shares?) of common stock of Hampshire Group, Limited (Pink Sheets: HAMP) was terminated because, among other things, certain conditions to the tender offer to be satisfied by Hampshire were...

Idt Submits Proposal To Acquire Tundra Semiconductor

Posted on April 27, 2009
All Cash Offer of CDN$6.25 per Share Provides Increased Benefits to Tundra Shareholders and Common Customers SAN JOSE, Calif., April 27, 2009 – IDT® (Integrated Device Technology, Inc.; NASDAQ: IDTI), a leading provider of essential mixed signal semiconductor solutions that enrich the digital media experience, today announced it has submitted a written proposal to acquire Tundra Semiconductor...

Victory Acquisition Corp. Proposed Merger Agreement With Touchtunes Corp. Terminated

Posted on April 27, 2009
Through a special meeting of stockholders, holders of more than 20% of Victory's common stock issued in Victory's IPO ("Public Offering") voted against the Merger and sought conversion. As a result, the Merger cannot be completed and Victory will be liquidated.

Security Bank Corporation Announces First Quarter 2009 Financial Results And Banks Enter Agreements With Fdic And State

Posted on April 24, 2009
Security Bank Corporation also announced today that five of its six banking subsidiaries have entered into Cease and Desist Orders with the Federal Deposit Insurance Corporation (FDIC) and with the State of Georgia Department of Banking and Finance. The orders set forth requirements for the banks to take actions to address capital levels and lending policies, and place restrictions on dividends...

Pdi Announces Termination of Promotion Agreement

Posted on April 22, 2009
SADDLE RIVER, N.J. (April 22, 2009) ? PDI, Inc. (NASDAQ: PDII), a pioneer in providing contract sales and commercialization services to the biopharmaceutical industry, today announced that PDI and Novartis have agreed to terminate a promotion agreement that was entered into in April 2008 under PDI?s product commercialization initiative whereby PDI deployed a sales field force and provided other...

WYNN Las Vegas Amends Credit Agreement

Posted on April 21, 2009
LAS VEGAS?(BUSINESS WIRE) - April 21, 2009---Wynn Resorts, Limited (NASDAQ: WYNN) announced that it has successfully completed an amendment of Wynn Las Vegas, LLC?s senior secured credit agreement. Among other things, the amendment: ? Waives leverage covenants until June 2011 and increases leverage thresholds thereafter ? Provides additional flexibility with respect to Wynn Las Vegas? interest...

Naf Holdings Ii, LLC And Hampshire Group, Limited Announce Extension of Tender Offer For Hampshire Group, Limited And Amendment To Agreement And Plan of Merger...

Posted on April 20, 2009
The tender offer was previously set to expire at 5:00 P.M., New York City time, on Friday, April 17, 2009. The depositary for the offer has advised that, as of 5:01 P.M., New York City time, on April 17, 2009, an aggregate of approximately 4,673,376 shares of Hampshire common stock had been tendered into, and not withdrawn from, the tender offer, representing more than 85% of the outstanding...

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