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Stock Market & Financial Investment News

News For FII;ESI From The Last 14 Days
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March 26, 2015
16:39 EDTESIBlum Capital lowers stake in ITT Educational to 5% from 6.1%
March 20, 2015
12:02 EDTFIIFederated Investors to acquire $91M in assets from Touchstone Ohio
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08:31 EDTFIIFederated Investors to acquire $91M in assets from Touchstone Ohio
Federated Investors and Touchstone Advisors have reached a definitive agreement regarding the acquisition by Federated of certain assets relating to Touchstone's management of the Touchstone Ohio Tax-Free Money Market Fund, a series of Touchstone Tax-Free Trust. In connection with the acquisition, approximately $91M in tax-free money market assets will be reorganized from the Touchstone Ohio Tax-Free Money Market Fund into Federated Ohio Municipal Cash Trust, a portfolio with a similar investment objective. Federated Ohio Municipal Cash Trust has approximately $391M in net assets and is a portfolio of the Federated Money Market Obligations Trust, which has approximately $184B in aggregate net assets. With approximately $19B in tax-free, state-specific money market assets under management, Federated offers more tax-free state money market products than any other investment manager. The reorganization is expected to be tax-free and is anticipated to be completed in the second quarter of 2015. Closing of the transaction is subject to shareholder approval and certain other contingencies.
March 18, 2015
07:33 EDTESIITT Educational receives notice from NYSE on late filing status
ITT Educational Services announced that it did not file its Annual Report on Form 10-K for the fiscal year ended December 31, 2014 on or before the due date of March 16, 2015. The company has received a notice from the NYSE that the company is subject to the NYSE's procedures under its timely filing criteria as a result of the company's failure to file the 2014 Form 10-K by the due date. Under NYSE rules, the company has six months from March 16, 2015 to file the 2014 Form 10-K. Until the company files the 2014 Form 10-K and all other periodic reports with subsequent due dates, its common stock will remain listed on the NYSE under the symbol "ESI," with a "LF" indicator to signify late filing status. The company can regain compliance with the NYSE listing standards during the six-month period once it files the 2014 Form 10-K with the SEC, but only if it has also filed all other periodic reports with subsequent due dates. The company is still evaluating the full impact of the consolidation of the 2009 Entity on these matters, and therefore cannot provide any assurance that the consolidation of 2009 Entity will not have a material negative impact on these matters, which could result in a material adverse effect on the company's results of operations, financial condition and/or cash flows. Further, the company did anticipate that it may be in noncompliance with certain covenants under its financing agreement.

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