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CLST Holdings, Inc.
CLST Holdings is Announcing a Law Suit Against Red Oak Fund, L.P., Red Oak Partners, LLC, and David Sandberg Alleging Violations of Federal Securities Laws
March 7th, 2009
CLST Holdings, Inc. ("CLST") (Pink Sheets: CLHI) announced that it had filed a lawsuit in the United States District Court for the Northern District of Texas against Red Oak Fund, L.P., Red Oak Partners, LLC, and David Sandberg alleging that defendants engaged in numerous violations of federal securities laws in making recent purchases of the common stock of CLST. Among other things, CLST accuses the defendants of falsely stating their intention to abandon a previously announced tender offer for CLST's common stock, when in fact, CLST alleges, defendants were making an illegal tender offer without complying with applicable securities laws. In addition, CLST accused...
Source: Law & Health Weekly (2009-03-07)
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