Tag Archives: Cautionary Statement

Business, Finance, Occupation & Industry

Vanguard Health Systems' Phoenix Health Plan Subsidiary Accepts a Capped Contract in Maricopa County

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By Business Wirevia The Motley Fool

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Vanguard Health Systems’ Phoenix Health Plan Subsidiary Accepts a Capped Contract in Maricopa County

NASHVILLE, Tenn.–(BUSINESS WIRE)– Vanguard Health Systems, Inc. (NYS: VHS) (the “Company”) today announced that its Phoenix, Arizona health plan subsidiary, VHS Phoenix Health Plan, LLC (“PHP“), agreed with the Arizona Health Care Cost Containment System (“AHCCCS“) on the general terms of a capped contract for Maricopa County for the three-year period commencing October 1, 2013. Approximately 98,300 of PHP‘s members resided in Maricopa County as of December 31, 2012. Pursuant to the terms of PHP‘s agreement with AHCCCS, PHP will not file a protest of any of AHCCCS‘ decisions. In addition, PHP agreed that enrollment will be capped effective October 1, 2013 and the enrollment cap will not be lifted at any time during the total contracting period, except in AHCCCS‘ discretion if certain conditions occur as outlined in the original request for proposal. AHCCCS has also indicated that it intends to hold an open enrollment for PHP members in Maricopa County sometime in calendar year 2014.

About Phoenix Health Plan, www.phoenixhealthplan.com

In partnership with the Arizona Health Care Cost Containment System (AHCCCS), Phoenix Health Plan (PHP) makes it easy for its members to access care from more than 12,350 physicians and providers, nearly 50 hospitals and 860 pharmacies across the State of Arizona. We are proud to serve over 186,000 PHP members across nine Arizona counties: Apache, Coconino, Gila, Maricopa, Mohave, Navajo, Pima, Pinal, and Yavapai. Headquartered in Phoenix, Arizona, PHP employs over 350 employees across Arizona. PHP is proud to have served Arizona residents since 1983.

About Vanguard Health Systems, www.vanguardhealth.com

The Company owns and operates 28 acute care and specialty hospitals and complementary facilities and services in metropolitan Chicago, Illinois; metropolitan Phoenix, Arizona; metropolitan Detroit, Michigan; San Antonio, Texas; Harlingen and Brownsville, Texas; and Worcester and metropolitan Boston, Massachusetts. The Company’s strategy is to develop locally branded, comprehensive health care delivery networks in urban markets.

Cautionary Statement about Forward -Looking Information

This press release contains “forward-looking statements” within the meaning of the federal securities laws that are intended to be covered by safe harbors created thereby. Forward-looking statements are those statements that are based upon management’s current plans, objectives, goals, strategies, intentions and expectations that is not historical information, and are …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

American Apparel Prices Offering of $206 Million of Senior Secured Notes

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By Business Wirevia The Motley Fool

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American Apparel Prices Offering of $206 Million of Senior Secured Notes

LOS ANGELES–(BUSINESS WIRE)– American Apparel, Inc. (the “Company”) (NYSE MKT: APP) announced today the pricing of $206,000,000 aggregate principal amount of its 13.0% Senior Secured Notes due 2020 (collectively, the “Notes“). The Notes will be issued at 97% of par. The Company intends to use the net proceeds from the offering of the Notes, together with borrowings under a new asset-backed revolving credit facility, to repay in full and terminate our credit facilities with Lion Capital, LLC and Crystal Financial LLC and, to the extent any proceeds are remaining, for general corporate purposes. The Company anticipates that the closing of the offering will take place on or about April 4, 2013, subject to customary closing conditions, including the concurrent closing of the new asset-backed revolving credit facility.

The Notes will be the senior secured obligations of the Company and will be guaranteed, on a senior secured basis, by the Company’s domestic restricted subsidiaries, subject to some exceptions.

The Notes and related guarantees are being offered only to “qualified institutional buyers” in the United States in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act“), and to non-U.S. persons pursuant to Regulation S under the Securities Act. The Notes and related guarantees have not been registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.

Cautionary Statement about Forward-Looking Statements

This press release contains forward-looking statements regarding the Notes and the closing of the offering. Such forward-looking statements are based upon the current beliefs and expectations of the Company’s management, but are subject to risks and uncertainties, which could cause actual results and/or the timing of events to differ materially from those set forth in the forward-looking statements, including, among others, whether or not the Company will consummate the offering …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Cigna Corporation Announces First Quarter 2013 Earnings Release Date

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Cigna Corporation Announces First Quarter 2013 Earnings Release Date

BLOOMFIELD, Conn.–(BUSINESS WIRE)– Cigna Corporation (NYS: CI) will release its First Quarter 2013 financial results on Thursday, May 2, 2013.

First Quarter 2013 financial results will be released no later than 6:30 a.m. Eastern Time (ET). Management will review these results on a conference call beginning at 8:30 a.m. ET that same morning. The call-in numbers for the conference call are as follows:

Live Call

(800) 619-9569 (Domestic)
(517) 623-4948 (International)
Passcode: 5557171

Replay

(800) 944-3380 (Domestic)
(402) 220-3015 (International)

It is strongly suggested you dial in to the conference call by 8:15 a.m. ET on May 2nd. The operator will periodically provide instructions regarding the call. A replay of the call will be available from 12:30 p.m. ET on Thursday, May 2nd until 11:59 p.m. ET on Thursday, May 16,2013. Additionally, the conference call will be available on a live Internet web cast at http://www.cigna.com under Investors, Investor Events section or at http://www.fulldisclosure.com. Please note that this feature will be in listen-only mode.

Anyone listening to the Cigna call and/or web cast is encouraged to read Cigna’s 2012 Annual Report on Form 10-K and other reports on file with the Securities and Exchange Commission, including the Cautionary Statement, “Risk Factors” and Cigna’s historical results of operations and financial condition.

A copy of the company’s news release and financial supplement will be available online at http://www.cigna.com under the Investors section, no later than 6:30 a.m. ET on May 2nd.

To ensure fair dissemination of information, no inquiries regarding Cigna’s results should be made to the Investor Relations Department until after the conference call on May 2nd.

About Cigna

Cigna Corporation (NYS: CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security. All products and services are provided exclusively through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America, Cigna Life …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Magellan Health Services Announces First Quarter 2013 Earnings Conference Call

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By Business Wirevia The Motley Fool

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Magellan Health Services Announces First Quarter 2013 Earnings Conference Call

AVON, Conn.–(BUSINESS WIRE)– Magellan Health Services, Inc. (NAS: MGLN) today announced that it will release first quarter earnings results onTuesday, April 30, 2013. Chief Executive Officer Barry M. Smith will discuss the Company’s financial results, as well as its business strategy and outlook in a conference call to be held the same day from 11 a.m. to 12 noon Eastern time.

The press release detailing the Company’s first quarter 2013 earnings results will be issued at approximately 6:30 a.m. Eastern, and will be immediately available on the investor relations page at www.MagellanHealth.com.

To participate in the conference call, interested parties should call 1-800-857-1812 and reference the passcode First Quarter 2013 Earnings Call approximately 15 minutes before the start of the call. The conference call also will be available via live webcast at Magellan’s investor relations page at www.MagellanHealth.com.

A taped replay of the conference call will be available for one week following the call. Interested parties should call 1-866-465-2119 or 1-203-369-1436 (from outside the U.S.) to listen.

Those who plan to access the call or webcast are encouraged to read Magellan’s Annual Report on Form 10-K for the year ended December 31, 2012, filed with the Securities and Exchange Commission (SEC) on February 28, 2013, for material information regarding Magellan’s operational and financial results, including the section entitled “Risk Factors.”

About Magellan Health Services

Headquartered in Avon, Conn., Magellan Health Services, Inc. is a leading specialty health care management organization with expertise in managing behavioral health, radiology and specialty pharmaceuticals, as well as pharmacy benefits programs. Magellan delivers innovative solutions to improve quality outcomes and optimize the cost of care for those we serve. As of December 31, 2012, Magellan’s customers include health plans, employers and government agencies, serving approximately 33.8 million members in our behavioral health business, 17.2 million members in our radiology benefits management segment, and 8 million members in our medical pharmacy management product. In addition, the specialty pharmaceutical segment served 41 health plans and employers, as well as several pharmaceutical manufacturers and state Medicaid programs. The company’s Medicaid Administration segment served 24 states and the District of Columbia. For more information, visit www.MagellanHealth.com.

Cautionary Statement

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Hearings Panel Decision to Allow Continued Listing of Lime Energy's Common Stock

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Hearings Panel Decision to Allow Continued Listing of Lime Energy’s Common Stock

HUNTERSVILLE, N.C.–(BUSINESS WIRE)– Lime Energy Co. (NAS: LIME) (the “Company”) today announced that, on March 6, 2013, it received a letter from The NASDAQ Stock Market LLC (“NASDAQ“) notifying the Company that a NASDAQ Listing Qualifications Panel (the “Panel”) granted the Company’s request for continued listing of its common stock on The NASDAQ Capital. The Company’s continued listing is subject to the following conditions:

  1. On or before June 30, 2013, the Company shall have restated financial statements for fiscal 2008, 2009, 2010 and 2011 on file with the Securities and Exchange Commission (the “SEC”);
  2. On or before July 31, 2013, the Company shall file its Form 10-Q for the quarters ended March 31, June 30 and September 31, 2012; and
  3. On or before August 9, 2013, the Company shall file its Form 10-K for the year ended December 31, 2012 and its Form 10-Q for the quarter ended March 31, 2013.

As previously disclosed, the Company received a notice from the NASDAQ Listing Qualifications Staff on January 9, 2013 regarding the Company’s failure to satisfy NASDAQ Listing Rule 5250(c)(1) because the Company had not filed its Quarterly Reports on Form 10-Q for the periods ended June 30, and September 30, 2012, and that as a result the Company’s common stock was subject to delisting from NASDAQ. The Company requested a hearing before the Panel to review the listing determination and to request that the Panel grant the Company additional time to regain compliance. The hearing was held on February 21, 2013.

The Company is required to provide prompt notification to NASDAQ of any significant events during the exception period, including any events that may call into question the Company’s historical financial information or that may impact the Company’s ability to maintain compliance with any NASDAQ listing requirement or exception deadline. During the exception period, the Company must be able to demonstrate compliance with all requirements for continued listing on NASDAQ. In the event the Company is unable to do so, its securities may be delisted from NASDAQ.

Cautionary Statement

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

American Apparel, Inc. Announces Proposed Private Debt Offering

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American Apparel, Inc. Announces Proposed Private Debt Offering

LOS ANGELES–(BUSINESS WIRE)– American Apparel, Inc. (the “Company”) (NYSE MKT: APP) announced today that it currently intends, subject to market and other conditions, to offer senior secured notes (the “Notes”) in a private offering. The Notes, if offered, will be offered only to “qualified institutional buyers” in the United States in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act“), and to non-U.S. persons pursuant to Regulation S under the Securities Act. The Company intends to use the net proceeds of any such offering of the Notes to repay certain indebtedness and for general corporate purposes. The Company may at any time elect to no longer pursue a possible Notes offering.

The Notes have not been registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.

Cautionary Statement about Forward-Looking Statements

This press release contains forward-looking statements regarding a proposed private offering. Such forward-looking statements are based upon the current beliefs and expectations of the Company’s management, but are subject to risks and uncertainties, which could cause actual results and/or the timing of events to differ materially from those set forth in the forward-looking statements, including, among others, whether or not the Company will ultimately commence or consummate the offering of the Notes, the timing of any such offering and if any such offering is consummated, the terms of the Notes and the uses of proceeds of the offering. All forward-looking statements are qualified in their entirety by this cautionary statement and speak only as of the date of this release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

American Apparel, Inc.<br …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Lime Energy Receives Additional Time To Comply With Minimum Bid Price Requirement

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By Business Wirevia The Motley Fool

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Lime Energy Receives Additional Time To Comply With Minimum Bid Price Requirement

HUNTERSVILLE, N.C.–(BUSINESS WIRE)– Lime Energy Co. (NAS: LIME) today announced that, On March 1, 2013, Lime Energy Co. (NASDAQ: LIME ) (the “Company”) received a second compliance notice from The NASDAQ Stock Market (“NASDAQ”) Market indicating that it has not regained compliance with the minimum bid price requirement of $1.00 as set forth in NASDAQ Marketplace Rule 5550(a)(2). However, the NASDAQ staff has determined that the Company is eligible for an additional 180 day grace period, or until August 26, 2013, to regain compliance with NASDAQ Listing Rule 5550(a)(2). This additional 180 day period relates exclusively to the bid price deficiency. The Company may be delisted during the 180 days for failure to maintain compliance with any other listing requirements for which it is currently on notice or which occurs during this period. NASDAQ’s determination to grant the additional 180 day period was based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the NASDAQ Capital Market, with the exception of the bid price requirement, and the Company’s written notice to NASDAQ of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary.

The Company can regain compliance with NASDAQ Listing Rule 5550(a)(2) by maintaining a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days; NASDAQ, however, in its discretion, may require that the Company maintain a closing bid price of at least $1.00 per share for a period in excess of ten consecutive business days, but generally no more than 20 consecutive business days, before determining that the Company has demonstrated an ability to maintain long-term compliance.

If compliance cannot be demonstrated by August 26, 2013, NASDAQ will provide written notification that the Company’s securities will be delisted. At that time, the Company may appeal the delisting determination to a Hearings Panel.

The Company previously received a written notification from NASDAQ on August 29, 2012, indicating that the minimum bid price of the Company’s common stock had fallen below $1.00 for 30 consecutive trading days and that it was therefore not in compliance with NASDAQ Listing Rule 5550(a)(2).

Cautionary Statement

This press release includes “forward-looking statements” within the meaning …read more
Source: FULL ARTICLE at DailyFinance