You will be redirected back to your article in seconds

Trimark restates its earnings

Trimark Holdings Inc. restated its earnings for the second fiscal quarter and six months, reflecting a tentative settlement in a shareholder class-action suit.

The company posted a net income of $ 256,000 (6 cents per share) for the quarter, compared to $ 743,000 (16 cents) in the same quarter last year.

Revenues were $ 8.99 million, compared to $ 5.6 million.

The company has taken a $ 1.2 million charge for the settlement.

Last April, a shareholder brought a suit against the company, chairman Mark Amin, president/chief executive officer Roger Burlage, Johan Wassenaar, Lloyd Grief, Sutro & Co. Inc. and Raymond James & Associates Inc.

Related to public offering

The lawsuit was “seeking damages for alleged federal securities law violations” related to the Trimark’s initial public offering.

The company’s minimum contribution to the settlement would be $ 1.2 million, with a maximum of $ 1.9 million.

According to the company, the total consideration from the defendents will be $ 3.5 million.

Burlage noted that the company and the directors have denied any liability, and that, as the company stated, “The interest of individual defendants in vindicating the company and themselves, must be subordinated to the company’s interest in eliminating the distraction and financial impediments caused by the pendency of the litigation.”

More Film

  • Japan Ramps Up International Film Co-Productions

    Japanese Film Makers Find Opportunities in International Co-Productions

    Trimark Holdings Inc. restated its earnings for the second fiscal quarter and six months, reflecting a tentative settlement in a shareholder class-action suit. The company posted a net income of $ 256,000 (6 cents per share) for the quarter, compared to $ 743,000 (16 cents) in the same quarter last year. Revenues were $ 8.99 […]

  • Netflix Unveils 'Great Day in Hollywood'

    Netflix Unveils 'Great Day in Hollywood' Image Spot Highlighting Black Creators

    Trimark Holdings Inc. restated its earnings for the second fiscal quarter and six months, reflecting a tentative settlement in a shareholder class-action suit. The company posted a net income of $ 256,000 (6 cents per share) for the quarter, compared to $ 743,000 (16 cents) in the same quarter last year. Revenues were $ 8.99 […]

  • Kendrick Lamar

    2018 BET Awards Complete Winners List

    Trimark Holdings Inc. restated its earnings for the second fiscal quarter and six months, reflecting a tentative settlement in a shareholder class-action suit. The company posted a net income of $ 256,000 (6 cents per share) for the quarter, compared to $ 743,000 (16 cents) in the same quarter last year. Revenues were $ 8.99 […]

  • Tom Holland Uncharted

    Tom Holland Reveals 'Spider-Man 2' Title: 'Far From Home'

    Trimark Holdings Inc. restated its earnings for the second fiscal quarter and six months, reflecting a tentative settlement in a shareholder class-action suit. The company posted a net income of $ 256,000 (6 cents per share) for the quarter, compared to $ 743,000 (16 cents) in the same quarter last year. Revenues were $ 8.99 […]

  • Palm Springs Shortfest Winners List

    'Fauve' Takes Top Prize at Palm Springs International Shortfest

    Trimark Holdings Inc. restated its earnings for the second fiscal quarter and six months, reflecting a tentative settlement in a shareholder class-action suit. The company posted a net income of $ 256,000 (6 cents per share) for the quarter, compared to $ 743,000 (16 cents) in the same quarter last year. Revenues were $ 8.99 […]

  • The Closing of Magno, the Quintessential

    The Closing of Magno, the Quintessential New York Screening Room

    Trimark Holdings Inc. restated its earnings for the second fiscal quarter and six months, reflecting a tentative settlement in a shareholder class-action suit. The company posted a net income of $ 256,000 (6 cents per share) for the quarter, compared to $ 743,000 (16 cents) in the same quarter last year. Revenues were $ 8.99 […]

  • (L to R) Owen (CHRIS PRATT),

    'Jurassic World: Fallen Kingdom' Tops $700 Million Worldwide

    Trimark Holdings Inc. restated its earnings for the second fiscal quarter and six months, reflecting a tentative settlement in a shareholder class-action suit. The company posted a net income of $ 256,000 (6 cents per share) for the quarter, compared to $ 743,000 (16 cents) in the same quarter last year. Revenues were $ 8.99 […]

More From Our Brands

Access exclusive content