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Stock Market & Financial Investment News

News Breaks
November 16, 2012
09:31 EDTPCTIPCTEL, Inc. increases quarterly dividend to 3.5c from 3c
PCTEL's Board of Directors had approved a 16.6% increase in the company’s regular quarterly dividend to 3.5c per share on its common stock. The quarterly dividend had been 3c per share. This dividend will be payable on February 15, 2013 to shareholders of record at the close of business on February 8, 2013.
News For PCTI From The Last 14 Days
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October 20, 2014
08:51 EDTPCTIPCTEL, Inc. settles lawsuit with accounting firm
PCTEL, Inc. announced that it settled its lawsuit against the accounting firm that provided audited financial statements for TelWorx Communications, LLC and related entities in connection with the July, 2012 asset sale to PCTEL. The amount of the settlement was not disclosed. The details of the impact of this settlement on PCTEL’s 2014 financial statements will be discussed at the company’s Q3 earnings call on October 30. “About two years ago, PCTEL disclosed accounting irregularities associated with the representation of the TelWorx assets purchased by PCTEL as described in our March 13, 2013 SEC filing. At that time, we communicated to our shareholders that we would pursue recovery of damages resulting from those accounting irregularities. Since then, we have recovered over $7.5 million in cash, stock, escrowed funds and rent abatement from the TelWorx principals, the accounting firm that conducted the pre-acquisition audit, and others,” said Marty Singer, PCTEL’s Chairman and CEO. “In parallel, we completely integrated the acquired assets into our Bloomingdale operation and developed a strong small cell site solutions operation and a mobile tower business that focuses on oil and gas and utilities. It is now time to focus all of our energy on growth,” added Singer.

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