Stock Market & Financial Investment News

News Breaks January 19, 2013 11:41 EDT CSFS Cash Store Financial to separate roles of Chairman and CEO The Cash Store Financial Services announced that the board of directors will separate the roles of Chairman and CEO prior to the company's Annual General Meeting for fiscal 2013, which will be held in early 2014. Mr. Gordon Reykdal will continue to hold the positions of Chairman and Chief Executive Officer until a suitable candidate has been selected to be the next Chairman. The Governance and Nominating Committee will undertake the search for a new Chairman. The Board of Directors' decision to separate the roles was based upon its careful consideration of the company's current stage of growth and development, input from its shareholders, and to further align Cash Store Financial with corporate governance best practices. News For CSFS From The Last 14 Days Check below for free stories on CSFS the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 22, 2013 09:18 EDT CSFS Cash Store Financial trading halted, pending news May 21, 2013 09:11 EDT CSFS Cash Store Financial trading halted, pending news Subscribe for More Information May 20, 2013 09:13 EDT CSFS Cash Store Financial trading halted, pending news Subscribe for More Information May 17, 2013 09:05 EDT CSFS Cash Store Financial trading halted, pending news Subscribe for More Information May 16, 2013 09:09 EDT CSFS Cash Store Financial trading halted, pending news May 15, 2013 19:48 EDT CSFS Cash Store Financial reports Q2 EPS (24c), one estimate (9c) Subscribe for More Information 09:44 EDT CSFS Cash Store Financial says investigation ended, no further restatements needed Subscribe for More Information 09:26 EDT CSFS Cash Store Financial trading halted, pending news May 14, 2013 12:00 EDT CSFS Cash Store Financial falls 6.8% Subscribe for More Information 06:18 EDT CSFS Cash Store Financial to restate issued consolidated financial statements The Cash Store Financial Services announced that it will restate the previously issued consolidated financial statements for the years ended September 30, 2012; September 30, 2011 and the fifteen month period ended September 30, 2010. The Company will also restate the December 31, 2011; March 31, 2012; June 30, 2012 and December 31, 2012 unaudited interim consolidated financial statements. The correction of the error effective from September 30, 2010 will result in the maximum exposure of $18.8M being expensed. The maximum amount of the potential liability was first disclosed in the notes to the financial statements in March 2010, and disclosed thereafter in the annual and quarterly financial statements. The maximum potential exposure consists of approximately $6.2M in cash, which was paid to the Settlement Administrator in 2011, approximately $6.2M in credit vouchers, and $6.4M in legal fees, which was paid to the plaintiff's counsel in 2010. After cash and credit vouchers have been disbursed by the Settlement Administrator, the remaining accrual for unclaimed credit vouchers as of March 31, 2013 is approximately $5.3M. Sign up for a free trial to see the rest of the stories you've been missing.