BANKRUPTCY Morris Publishing Group, Augusta, Ga., owner of 13 daily newspapers (including the Brainerd Dispatch), nondaily newspapers (including the Lake County Echo, Pequot Lakes), city magazines and free community publications, plans to file a prepackaged bankruptcy plan by Jan. 19.
DEBT AND EQUITIES Gander Mountain Co., St. Paul, completed a 1-for-30,000 reverse split of its common stock followed by a 30,000-for-1 forward split, part of a previously announced transaction to take the company private. The company intends to withdraw its shares of common stock from listing on the Nasdaq Global Market.
DIVIDENDS Pentair Inc., Golden Valley, declared a regular quarterly cash dividend of 19 cents per share payable Feb. 12 to shareholders of record Jan. 29.
CLINICAL TRIALS Cardiovascular Systems, Inc., St. Paul, has received Food and Drug Administration conditional Investigational Device Exemption approval to evaluate the safety and effectiveness of its Diamondback 360 System in the treatment of calcified coronary lesions. With this conditional approval, CSI is authorized to begin its pivotal trial, ORBIT II, in early 2010 and initially enroll up to 100 patients at as many as 50 U.S. sites.
EnteroMedics Inc., Roseville, announced clinical results from two studies of VBLOC vagal blocking therapy, including additional data from its EMPOWER study in obesity and interim clinical results from its ongoing VBLOC-DM2 ENABLE study in diabetes using the next-generation rechargeable device. For all studies, the Maestro System continues to meet safety goals, with no therapy-related serious adverse events reported across the various study populations.
International Medica Foundation, Rochester, is sponsoring a Phase II clinical trial of its oral rotavirus vaccine, RotaShield. The trial is being conducted in northern Ghana, Africa, and has already involved nearly 1,000 infants in the study.
PERSONNEL Syncada, a Minneapolis-based financial supply chain network joint venture between Visa and U.S. Bank, has named Kurt Schneiber chief executive officer. Schneiber most recently was president of Fortent, a privately held technology firm specializing in regulatory compliance for financial institutions.
The Women's Foodservice Forum, Minneapolis, has named Fritzi Woods president and CEO. Woods previously was president, CEO and chair of the board for PrimeSource FoodService Equipment Inc.
