Published:
Innotrac Updates Status of Trading Restriction and Receivership for IPOF Fund
ATLANTA, Sept. 5 /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 inCleveland, Ohio. In
an order dated September 5, 2008, 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 December 5, 2008. The
Company's discussions with the receiver exploring avenues for the disposition
of the shares are ongoing.
About Innotrac
Innotrac Corporation, founded in 1984 and based inAtlanta, 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 six cities spanning all time zones across the continental
United States. For more information about Innotrac, visit the Innotrac Web
site, http://www.innotrac.com .
Information contained in this press release, other than historical
information, may be considered forward-looking in nature. 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 stock price, operating results, performance or
financial condition are supply of and demand for shares of the Company's stock
and other market dynamics, 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 and numerous other factors discussed in Innotrac's 2007
Annual Report on Form 10-K and other filings on file with the Securities and
Exchange Commission.
SOURCE Innotrac Corporation
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Copyright © 2009, NewsBlaze,
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