AGIS.OB, News, one to watch! About 2 weeks ago the stocked dropped from .05x.06 to .016x.019 because the company was going to be bought out with no $ going to the shareholders. This is a legit company with big revenues. Today's PR says that a lawsuit has been filed by shareholders to stop the buyout. The price could easily rise if people think they have a case. Here is the PR:
Press Release Source: Aegis Communications Group, Inc.
Aegis Communications Group, Inc. Announces Stockholder Lawsuits
Wednesday July 30, 8:45 am ET
IRVING, Texas, July 30 /PRNewswire-FirstCall/ -- Two Aegis Communications Group, Inc. (OTC Bulletin Board: AGIS - News) public stockholders have filed complaints in the District Court of Dallas County, Texas against Aegis Communications Group and specified individual members of its Board of Directors. The complaints allege, among other things, that the proposed acquisition of Aegis by AllServe Systems is unfair to the public stockholders of Aegis and that the defendants breached their fiduciary duties to the Aegis public stockholders in connection with the proposed acquisition. The plaintiffs are seeking a class action in each complaint. Herman M. Schwarz, Chief Executive Officer of Aegis, stated "the proposed acquisition of Aegis by AllServe is the best proposal we can obtain for our stakeholders, including our stockholders, creditors and employees. We believe these lawsuits are without merit, and we intend to vigorously defend them. We continue to expect to close this transaction during the third quarter ending September 30, 2003." On July 14, 2003, Aegis and AllServe announced the signing of a definitive agreement by which AllServe will acquire Aegis by merging a wholly owned subsidiary of AllServe into Aegis for approximately $22.75 million plus the assumption of all trade liabilities. |
