All:
This was filed on Friday (part of new 8-K filing by Ultrafem).:
For Further Information,
Please Contact:
Ultrafem @ 212/921-2070
Dori Reap
Tonya Hinch
FOR IMMEDIATE RELEASE
ULTRAFEM ANNOUNCES DELISTING FROM NASDAQ
NEW YORK, NY, MAY 15, 1998 -- Ultrafem, Inc. announced today that
subsequent to its April 1, 1998 bankruptcy filing, NASDAQ notified the Company
on May 5, 1998 that Ultrafem common stock, which traded under the symbol UFEMQ,
was delisted from the Nasdaq National Market.
In unrelated matters, Richard Cone resigned from the Board of Directors on
April 30, 1998, according to Joy V. Jones, chairperson. The Company also
announced that two additional class action lawsuits have been filed against the
Company, certain of its officers, directors, and former directors. The Company
believes the allegations in these complaints are without merit. These actions
are stayed with respect to Ultrafem as a result of the Chapter 11 filing.
Ultrafem is a women's health care company. The Company's business strategy is
to develop, manufacture and market proprietary products based on its patented
SoftCup(R) technology.
* * * *
-5-
Larry
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