Innotrac Updates Status of Trading Restriction and Receivership for IPOF Fund
03 Dezember 2009 - 10:30PM
PR Newswire (US)
ATLANTA, Dec. 3 /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
November 30, 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 March 5, 2010. CONTACT: George Hare, Chief Financial Officer
Innotrac Corporation 678-584-4020, http://www.innotrac.com/ (INOC)
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 seven fulfillment centers and
one call center 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, Innotrac's
success in growing its existing client base, developing new
business, reducing operating costs in response to reduced service
revenues, realization of expected revenues from new clients, the
general state of the industries that the Company serves, changing
technologies, Innotrac's ability to maintain profit margins in the
face of pricing pressures and numerous other factors discussed in
Innotrac's 2008 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. 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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