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Friday, February 29, 2008 4:14:05 PM
Tuesday, November 06 2007 6:59 AM, EST Business Wire
HOUSTON --(BUSINESS WIRE)--
Russell Industries, Inc. (Pink Sheets:RSDS), announces that its Board of Directors has decided that it will not ask its shareholders to vote for a reverse split in 2007. "The Board and Management feel that the present price per share of RSDS is not reflective of the Company's assets and potential. If there is little to no improvement during the remainder of the year, the Company will recommend that this action be put to a vote sometime during the first quarter of 2008," said Rick Berman, President and CEO.
Guess the board...errr...Berman put it to a vote and didn't bother to tell the investors.
By the way, is that even legal? Can he do an R/S without announcing it?
-faz
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