Innotrac Updates Status of Trading Restriction and Receivership for IPOF Fund
09 März 2009 - 9:35PM
PR Newswire (US)
ATLANTA, March 9 /PRNewswire-FirstCall/ -- Innotrac Corporation
(NASDAQ: INOC) today updated its previous announcement regarding
the restriction placed on the trading of Company stock in the IPOF
Fund, L.P. administered by the receiver appointed by the United
States District Court in Cleveland, Ohio. In an order dated March
5, 2009, the Court extended the period during which financial
institutions holding Company stock owned by the IPOF Fund, Mr.
Dadante or Dadante-related entities are restricted from trading any
of these shares as defined in the Court's prior orders until June
5, 2009. Innotrac Innotrac Corporation, founded in 1984 and based
in Atlanta, Georgia, is a full-service fulfillment and logistics
provider serving enterprise clients and world-class brands. The
Company employs sophisticated order processing and warehouse
management technology and operates eight fulfillment centers and
two call centers in seven cities spanning all time zones across the
continental United States. For more information about Innotrac,
visit the Innotrac Website, http://www.innotrac.com/. Information
contained in this press release, other than historical information,
may be considered forward-looking in nature. Forward-looking
statements in this press release include our expectations for
future progress in our business and future generation of cash
flows. Forward-looking statements are subject to various risks,
uncertainties and assumptions. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those
anticipated, estimated or expected. Among the key factors that may
have a direct bearing on Innotrac's operating results, performance
or financial condition are competition, the demand for Innotrac's
services, Innotrac's ability to retain its current clients and
attract new clients, realization of expected revenues from new
clients, the state of the telecommunications and direct response
industries in general, changing technologies, Innotrac's ability to
maintain profit margins in the face of pricing pressures,
Innotrac's ability to finalize a new loan agreement and numerous
other factors discussed in Innotrac's 2006 Annual Report on Form
10-K and other filings on file with the Securities and Exchange
Commission. Innotrac disclaims any intention or obligation to
update or revise any forward-looking statement whether as a result
of new information, future events or otherwise. CONTACT: George
Hare, Chief Financial Officer Innotrac Corporation 678-584-4020,
http://www.innotrac.com/ / (INOC) DATASOURCE: Innotrac Corporation
CONTACT: George Hare, Chief Financial Officer, Innotrac
Corporation, +1-678-584-4020, Web Site: http://www.innotrac.com/ /
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