Latitude Communications (NASDAQ:LATD)
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Latitude Communications Announces Termination of HSR ACT Waiting Period
SANTA CLARA, Calif., Dec. 3 /PRNewswire-FirstCall/ -- Latitude Communications,
Inc. , a leading provider of fully integrated web and voice conferencing
applications, announced today the termination of the applicable waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 pertaining to the
proposed acquisition of Latitude by Cisco Systems, Inc.
Additional Information about the Proposed Acquisition and Where You Can Find It
In connection with the proposed acquisition of Latitude by Cisco, Latitude filed
with the Securities and Exchange Commission (SEC) a preliminary proxy statement
and other relevant materials on November 21, 2003. Latitude expects that the
definitive proxy statement will be filed with the SEC on December 3, 2003 and
will be mailed to the stockholders of Latitude on or about December 4, 2003.
Before making any voting decision with respect to the proposed acquisition of
Latitude by Cisco, investors and stockholders of Latitude are urged to read the
definitive proxy statement and other relevant materials because they will
contain important information about the proposed acquisition. The definitive
proxy statement and other relevant materials, and any other documents filed by
Latitude with the SEC, may be obtained free of charge at the SEC's web site at
http://www.sec.gov/. In addition, investors and stockholders of Latitude may
obtain free copies of the documents filed with the SEC by contacting Latitude
Investor Relations at 408-988-7200 or Latitude Communications, Inc., 2121 Tasman
Drive, Santa Clara, CA 95054. You may also read and copy any reports, statements
and other information filed by Latitude with the SEC at the SEC public reference
room at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the SEC's other
public reference rooms in New York, New York and Chicago, Illinois. Please
call the SEC at 1-800-SEC-0330 for further information on its public reference
rooms.
Latitude and Cisco and their respective executive officers and directors may be
deemed to be participants in the solicitation of proxies from the Latitude
stockholders in favor of the proposed acquisition of Latitude by Cisco. Certain
executive officers and directors of Latitude have interests in the merger,
including employment agreements, retention bonuses, severance arrangements,
acceleration of vesting of stock options and their ownership of Latitude's
common stock, and these interests are described in the definitive proxy
statement.
Forward Looking Statements
This document contains forward-looking statements which are subject to safe
harbors created under the U.S. federal securities laws. Statements regarding
future events are based on Latitude's current expectations and are necessarily
subject to associated risks related to, among other things, obtaining Latitude
stockholder approval of the proposed acquisition of Latitude by Cisco, the
potential impact on the business of Latitude due to uncertainty about the
proposed acquisition, the retention of employees of Latitude, the ability of
Cisco to successfully integrate Latitude's products, technology and operations
and to achieve planned synergies, and whether (and how quickly) the market for
enterprise conferencing develops and evolves as anticipated. Therefore, actual
results may differ materially and adversely from those expressed in any
forward-looking statements. For information regarding other related risks, see
the "Risk Factors" section of Latitude's most recent Form 10-Q filed with the
SEC on November 13, 2003. Latitude undertakes no obligation to revise or update
any forward-looking statements for any reason.
DATASOURCE: Latitude Communications, Inc.
CONTACT: Marlo DeLeon, Investor Relations of Latitude Communications,
Inc., +1-408-988-7296, or
Web site: http://www.latitude.com/