SEC NEWS DIGEST Issue 2007-113 June 13, 2007 COMMISSION ANNOUNCEMENTS SEC VOTES ON REGULATION SHO AMENDMENTS AND PROPOSALS; ALSO VOTES TO ELIMINATE "TICK" TEST The Securities and Exchange Commission today voted to take additional steps to better safeguard investors and protect the integrity of the markets during short selling transactions by closing loopholes in Regulation SHO and further reducing persistent failures to deliver stock by the end of the standard three-day settlement period for trades. Erik Sirri, Director of the SEC's Division of Market Regulation, said, "Today the Commission voted on steps to streamline and tighten short selling provisions so that markets and investors are better served by our rules." 1. Final Amendments to Rules 200 and 203 of Regulation SHO The Securities and Exchange Commission voted to adopt final amendments to Rules 200 and 203 of Regulation SHO (17 CFR 242.200 and 242.203). The amendments will further reduce fails to deliver in certain equity securities by eliminating the grandfather provision. The amendments also modify the close-out requirement for fails to deliver resulting from sales of threshold securities pursuant to Rule 144 of the Securities Act of 1933 (Securities Act). In addition, the amendments update the market decline limitation referenced in Regulation SHO. The amendments will be effective 60 days from the date of publication of the amendments in the Federal Register. Regulation SHO, which became fully effective in January 2005, provides a regulatory framework governing short sales of securities and, among other things, includes the following: * A definition of ownership for short sale purposes and a requirement to determine a short seller's net aggregate position. * A locate requirement, which requires that before accepting or effecting a short sale order, brokers and dealers must (i) borrow securities, (ii) make arrangements to borrow securities, or (iii) have a reasonable basis to believe that securities can be borrowed in order to make timely delivery. "* Additional delivery or close-out requirements on designated "threshold securities." A threshold security means an equity security registered or required to file reports with the Commission for which there is an aggregate fail to deliver position for five consecutive settlement days at a registered clearing agency of 10,000 shares or more and that is equal to at least 0.5% of the issue's total shares outstanding. Where a clearing agency participant has a fail to deliver position in threshold securities that persists for 13 consecutive settlement days, the participant must take action to close out the position. Until the position is closed out, the participant, and any broker-dealer for which it clears transactions, including market makers, may not effect further short sales in the particular threshold security without borrowing or entering into a bona fide arrangement to borrow the security. * A grandfather provision that provides that the requirement to close- out fail to deliver positions in threshold securities that remain for 13 consecutive settlement days does not apply to positions that were established prior to the security becoming a threshold security or prior to the effective date of Regulation SHO. The grandfather provision was adopted because the Commission was concerned about creating volatility where there were large pre-existing fail to deliver positions. The amendments voted on today will: * Eliminate the grandfather provision in Rule 203(b)(3)(i) so that all fail to deliver positions in threshold securities will have to be closed out within 13 consecutive settlement days, regardless of whether they occurred before the security became a threshold security. * Permit previously-excepted grandfather positions that are threshold securities on the effective date of the amendment to be closed out within 35 settlement days of the effective date of the amendment. * Amend Rule 203 of Regulation SHO to extend the close out requirement from 13 to 35 consecutive settlement days for fails to deliver resulting from sales of threshold securities pursuant to Rule 144 of the Securities Act. * Amend Rule 200(e)(3) to (i) reference the NYSE Composite Index (NYA) instead of the Dow Jones Industrial Average (DJIA); (ii) add language to clarify that the two-percent limitation is to be calculated in accordance with NYSE Rule 80A; and (iii) provide that the market decline limitation will remain in effect for the remainder of the trading day. 2. Proposed and Re-proposed Amendments to Regulation SHO The Commission voted to propose amendments to Rule 200 and re-propose amendments to Rule 203 of Regulation SHO (17 CFR 242.200 and 242.203). The proposed amendments would modify the long sale marking requirements of Regulation SHO to require that broker-dealers marking a sale as "long" document the present location of the securities being sold. The re-proposed amendments are intended to further reduce fails to deliver in certain equity securities by eliminating the options market maker exception to the close-out requirement of Regulation SHO. In addition, the Commission voted to solicit comment regarding two narrowly-tailored alternatives to elimination of the options market maker exception. The comment period for the proposals will end 30 days from the date of publication of the proposed rules in the Federal Register. The options market maker exception provides that any fail to deliver position in a threshold security resulting from short sales effected by a registered options market maker to establish or maintain a hedge on options positions that were created before the underlying security became a threshold security do not have to be closed out. Today's proposed amendments would eliminate this exception to the close-out requirement of Regulation SHO. In addition, the proposed amendments to eliminate the options market maker exception would include a one-time 35 consecutive settlement day phase-in period for previously-excepted fail to deliver positions. 3. Amendments to Rule 10a-1 and Regulation SHO The Commission voted to adopt amendments to Rule 10a-1 (17 CFR 240.10a-1) and Regulation SHO (17 CFR 242.200 et seq.) that will remove Rule 10a-1 as well as any short sale price test of any self- regulatory organization (SRO). In addition, the amendments will prohibit any SRO from having a price test. The amendments will also include a technical amendment to Rule 200(g) of Regulation SHO that will remove the "short exempt" marking requirement of that rule. The amendments will be effective immediately upon publication of the release in the Federal Register. The Commission adopted Rule 10a-1 in 1938 after several years of considering the effects of short selling in a declining market. Rule 10a-1 provides that, subject to certain exceptions, a security may be sold short (A) at a price above the price at which the immediately preceding sale was effected (plus tick), or (B) at the last sale price if it is higher that the last different price (zero-plus tick). Short sales are not permitted on minus ticks or zero-minus ticks, subject to narrow exceptions. The operation of these provisions is commonly described as the "tick test." The tick test applies only to listed securities, other than Nasdaq-listed securities, traded on an exchange, or otherwise. In addition to the tick test of Rule 10a-1, the NASD and Nasdaq have adopted their own short sale price tests based on the last bid rather than on the last reported sale for purposes of determining the execution prices of short sales. These bid tests apply only to Nasdaq Global Market securities that are traded on Nasdaq or the over-the- counter market and reported to a NASD facility. On July 28, 2004, the Commission issued an order creating a one-year pilot temporarily suspending the tick test and any short sale price test of any exchange or national securities association for certain securities. The pilot was created so that the Commission could study the effectiveness of short sale price tests. The Commission's Office of Economic Analysis and academic researchers provided the Commission with analyses of the empirical data obtained from the pilot. In addition, the Commission held a roundtable to discuss the results of the pilot. The general consensus from these analyses and the roundtable was that the Commission should remove price test restrictions because they modestly reduce liquidity and do not appear necessary to prevent manipulation. In addition, the empirical evidence did not provide strong support for extending a price test to either small or thinly-traded securities not currently subject to a price test. (Press Rel. 2007-114) SECURITIES AND EXCHANGE COMMISSION SUSPENDS TRADING IN SECURITIES OF FIVE COMPANIES FOR FAILURE TO MAKE REQUIRED PERIODIC FILINGS The U.S. Securities and Exchange Commission announced the temporary suspension of trading of the securities of the following issuers, commencing at 9:30 a.m. EDT on June 13, 2007, and terminating at 11:59 p.m. EDT on June 26, 2007: * Global Datatel, Inc. (n/k/a Xcana Petroleum, Inc.) (XCPT) * Laminaire Corp. (n/k/a Cavico Corp.) (CVCP) * Military Communications Technologies, Inc. (n/k/a Carbon Race Corporation) (CBRJ) * TAM Restaurants, Inc. (n/k/a Aerofoam Metals, Inc.) (AFML) * Upside Development, Inc. (n/k/a Amorocorp) (AORO) The Commission temporarily suspended trading in the securities of the foregoing companies due to a lack of current and accurate information about the companies because they have not filed certain periodic reports with the Commission. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act). The Commission cautions brokers, dealers, shareholders and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by these companies. Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspensions, no quotation may be entered relating to the securities of the subject companies unless and until the broker or dealer has strictly complied with all of the provisions of the rule. If any broker or dealer is uncertain as to what is required by the rule, it should refrain from entering quotations relating to the securities of these companies that have been subject to trading suspensions until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. Any broker or dealer with questions regarding the rule should contact the staff of the Securities and Exchange Commission in Washington, DC at (202) 551-5720. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action. (Rel. 34-55902) SEC ANNOUNCES SECOND OF THREE DISBURSEMENTS FROM $267 MILLION PILGRIM BAXTER FAIR FUND The Securities and Exchange Commission today announced the distribution of $73 million to a second group of investors harmed by fraudulent market timing in the PBHG Funds between June 1998 and December 2001. Pilgrim Baxter & Associates, Ltd. was the investment adviser to the PBHG Funds during this period. Today's distribution is the second in a series of three disbursements from a Fair Fund that ultimately will provide $267 million to more than 384,000 account holders in the affected PBHG Funds. The first disbursement of $125 million occurred on April 23, 2007. The Commission anticipates that the third disbursement will be made before Sept. 30, 2007, to the remaining eligible account holders. To date, the SEC has distributed more than $1.8 billion in Fair Funds to investors. Investors can obtain additional information about the distribution process, including a copy of the Distribution Plan, by visiting http://www.pbafairfundsettlements.com or by calling the Administrator of the Distribution Plan at (800) 920-5408. For further information contact: Daniel M. Hawke, Regional Director Elaine C. Greenberg, Associate Regional Director Amy J. Greer, Regional Trial Counsel Catherine E. Pappas, Senior Trial Counsel SEC Philadelphia Regional Office (215) 597-3100 Distribution Plan: http://www.sec.gov/litigation/admin/2006/34-54812- dp.pdf Order Approving the Distribution Plan: http://www.sec.gov/litigation/admin/2006/34-54812.pdf Related Orders Instituting Proceedings: http://www.sec.gov/litigation/admin/33-8506.htm http://www.sec.gov/litigation/admin/33-8505.htm http://www.sec.gov/litigation/admin/ia-2251.htm Additional Documents and Background: http://www.sec.gov/divisions/enforce/claims/pilgrimbaxter.htm (Press Rel. 2007-113) COMMISSION MEETINGS Following is a schedule of Commission meetings, which will be conducted under provisions of the Government in the Sunshine Act. Meetings will be scheduled according to the requirements of agenda items under consideration. Open meetings will be held in the Auditorium, Room L-002 at the Commission's headquarters building, 100 F Street, N.E., Washington, D.C. Visitors are welcome at all open meetings, insofar as space is available. Persons wishing to photograph or videotape Commission meetings must obtain permission in advance from the Secretary of the Commission. Persons wishing to tape record a Commission meeting should notify the Secretary's office 48 hours in advance of the meeting. Any member of the public who requires auxiliary aids such as a sign language interpreter or material on tape to attend a public meeting should contact Rochelle Franks, Office of Human Resources, to make arrangements. Ms. Franks can be reached at TTY number (202) 551-4106. In the event Ms. Franks cannot be reached, you may call the interpreter directly at (202) 551-4158. If you are calling from a non TTY number, please call the Relay Service at 1 866 377 8642. OPEN MEETING - TUESDAY, JUNE 19, 2007 - 9:00 A.M. The subject matter of the open meeting on Tuesday, June 19, will be: The Commission will hold a roundtable discussion regarding rule 12b-1 under the Investment Company of 1940. The discussion will address: (i) the historical circumstances that led to the adoption of rule 12b-1, and the original intended purpose of the rule; (ii) the rule's current role in fund distribution practices; (iii) the costs and benefits of the current use of rule 12b-1; and (iv) the options for reform or rescission of rule 12b-1. OPEN MEETING - WEDNESDAY, JUNE 20, 2007 - 10:00 A.M. The subject matter of the open meeting on Wednesday, June 20, will be: 1. The Commission will consider whether to adopt amendments to expand its interactive data voluntary reporting program to permit mutual funds to submit as exhibits to their registration statements supplemental tagged information contained in the risk/return summary section of their prospectuses. The risk/return summary section contains key mutual fund information, including investment objectives and strategies, risks, and costs. 2. The Commission will consider whether to propose amendments to Form 20-F, Rules 3-10 and 4-01 of Regulation S-X, Forms F-4 and S-4, and Rule 701 under the Securities Act, to accept financial statements prepared in accordance with International Financial Reporting Standards as published by the International Accounting Standards Board without reconciliation to generally accepted accounting principles as used in the United States when contained in the filings of foreign private issuers with the Commission. 3. The Commission will consider whether to adopt amendments to the proxy rules under the Exchange Act to provide shareholders with the ability to choose the means by which they access proxy materials. Under the amendments, issuers and other soliciting persons will post their proxy materials on an Internet Web site and provide shareholders with a notice of the Internet availability of the materials. The issuer or soliciting person may choose to furnish paper copies of the proxy materials along with the notice. If the issuer or soliciting person chooses not to furnish a paper copy of the proxy materials along with the notice, a shareholder may request delivery of a copy at no charge to the shareholder. CHANGE IN THE MEETING: DELETION OF AN ITEM The following item was not considered during the open meeting on Wednesday, June 13, at 10:00 a.m.: The Commission will consider whether to adopt amendments to Rule 105 of Regulation M that would further safeguard the integrity of the capital raising process and protect issuers from manipulative activity that can reduce issuers' offering proceeds and dilute security holder value. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551-5400. ENFORCEMENT PROCEEDINGS COMMISSION ORDERS HEARINGS ON REGISTRATION REVOCATION AGAINST THREE DELINQUENT COMPANIES FOR FAILURE TO MAKE REQUIRED PERIODIC FILINGS In conjunction with the above-referenced trading suspension, the Commission also today instituted public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of three companies for failure to make required periodic filings with the Commission: * Laminaire Corp. (n/k/a Cavico Corp.) * TAM Restaurants, Inc. (n/k/a Aerofoam Metals, Inc.) * Upside Development, Inc. (n/k/a Amorocorp) In this Order, the Division of Enforcement (Division) alleges that the three issuers are delinquent in their required periodic filings with the Commission. In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the respondents to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of the securities of these respondents should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceedings. If any broker, dealer or other person has any information which may relate to this matter, they should immediately communicate it to the Delinquent Filings Branch of the Division of Enforcement at (202) 551- 5466, or by e-mail at DelinquentFilings@sec.gov. For further information see Order of Suspension of Trading In the Matter of Global Datatel (n/k/a Xcana Petroleum, Inc.), et al., File No. 500-1 (June 13, 2007). (Rel. 34-55901; File No. 3-12658) IN THE MATTER OF DANIEL LOVAGLIO On June 13, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Notice of Hearing (Order) against Daniel Lovaglio (Lovaglio). In the Order, the Division of Enforcement alleges that on July 30, 2003, Lovaglio pled guilty to one count of conspiracy to commit securities fraud before the U.S. District Court for the District of New Jersey, United States v. Daniel Lovaglio, 03 Cr. 562 (D.N.J.). The Order further alleges that the sole count of the criminal information to which Lovaglio pled guilty alleged, among other things, that Lovaglio, while employed as an unregistered representative at Valley Forge Securities, Inc. (Valley Forge), a broker-dealer registered with the Commission, contacted Valley Forge customers, posed as a registered broker, and used false and misleading sales practices to sell securities to Valley Forge customers in exchange for undisclosed commissions. A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, to provide Lovaglio an opportunity to dispute these allegations, and to determine what, if any, remedial sanctions against Lovaglio are appropriate and in the public interest pursuant to the Exchange Act. The Commission directed that an administrative law judge issue an initial decision in this matter within 210 days from the date of service of the Order Instituting Proceedings. (Rel. 34-55905; File No. 3-12613) FINAL JUDGMENTS OF PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST DEFENDANTS MUTUAL BENEFITS CORP. AND STEVEN STEINER, AND RELIEF DEFENDANTS CAMDEN CONSULTING, INC., AND SKS CONSULTING, INC. The Commission announced that on April 10, 2007, the Honorable Federico Moreno, U.S. District Judge for the Southern District of Florida entered Final Judgments of Permanent Injunction and Other Relief against Defendants, Mutual Benefits Corp. and Steven Steiner, and Relief Defendants Camden Consulting, Inc. and SKS Consulting, Inc., respectively. The Final Judgments, which were entered with the consents of Steiner and Mutual Benefits, enjoin them from violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, and Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. The Final Judgment against Steiner, Camden and SKS finds them jointly and severally liable for disgorgement and prejudgment interest in the amount of $5,000,000, but orders them to pay $3,925,000 based on their financial statements and other information submitted to the Commission. The Final Judgment against Mutual Benefits dismisses the Commission's remaining claims for disgorgement, prejudgment interest and civil penalties. Additionally, on April 13, 2007, the Commission filed a notice of voluntary dismissal of its disgorgement claims against Relief Defendants Viatical Benefactors, LLC and Viatical Services, Inc. because these entities are under the control of the court-appointed receiver who will be distributing their assets to defrauded investors. [SEC v. Mutual Benefits Corp., et al., Civil Action No. 04-60573-CIV-MORENO (S.D. Fla.)] (LR-20151) SEC FILES SETTLED INSIDER TRADING CHARGES AGAINST FORMER MANAGING PARTNER OF NATIONAL LAW FIRM'S WASHINGTON, D.C. OFFICE The Commission today filed a settled civil injunctive action in the U.S. District Court for the District of Columbia against David A. Schwinger, an attorney and former managing partner of Katten Muchin Rosenman LLP's (KMR) Washington, D.C. office. Schwinger was charged with engaging in illegal insider trading by purchasing shares of Vastera, Inc. (Vastera), a Virginia-based company assisting businesses in tracking information about international shipments, in violation of the antifraud provisions of the federal securities laws. Without admitting or denying the allegations in the Commission's complaint, Schwinger has agreed to settle this matter by consenting to the entry of a final judgment against him which imposes injunctive and monetary relief. The complaint alleges that Schwinger purchased Vastera common stock on Nov. 5, 2004, on the basis of material, nonpublic information that an acquisition of Vastera was imminent. The complaint further alleges that Schwinger learned of the impending merger while interviewing Vastera's Chief Counsel, who was then seeking to be hired by KMR as a partner. In responding to Schwinger's inquiries during the interview process about the Chief Counsel's reasons for leaving Vastera, the Chief Counsel allegedly disclosed to Schwinger no later than Oct. 27, 2004, that Vastera's acquisition was imminent. On the basis of that material, nonpublic information, the complaint alleges that Schwinger purchased 10,000 shares of Vastera common stock on Nov. 5, 2004, at an average price of $1.70 per share. The complaint further alleges that Schwinger knew that Vastera was a KMR client at the time of the purchase. According to the complaint, Vastera announced on Jan. 7, 2005, that it was being acquired by JP Morgan Chase Bank N.A. Vastera's share price, which had closed at $2.00 on January 6, rose 50% to $3 a share by the close of the market on January 7 on approximately four times the historical average daily trading volume. The complaint alleges that Schwinger knew, or was reckless in not knowing, that he purchased Vastera shares based on material, nonpublic information obtained during the interview process and in breach of a fiduciary duty owed to his firm, KMR. Schwinger is alleged to have imputed profits of $13,027. Based on the facts alleged, the Commission charged Schwinger with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Without admitting or denying the allegations in the complaint, Schwinger has consented to the entry of a final judgment that: (i) permanently enjoins him from violating Section 10(b) of the Exchange Act and Rule 10b-5 thereunder; (ii) requires him to disgorge $13,027 in illicit gains and $1,940 in prejudgment interest thereon; and (iii) orders him to pay a civil penalty of $26,054. The Commission acknowledges the assistance of the National Association of Securities Dealers in this matter. [SEC v. David A. Schwinger, C.A. No. 1:07-cv-01047, D.D.C. (RMC)] (LR-20152) COMMISSION CHARGES JOSEPH GALAMB WITH INSIDER TRADING The Commission announced that on June 13 it filed a civil action in the U.S. District Court for the District of New Jersey against Joseph Galamb, of Marlboro, New Jersey, for engaging in unlawful insider trading in the securities of Hudson United Bancorp (Hudson United). The complaint alleges that the defendant, a former Hudson United Assistant Vice President, purchased securities of Hudson United on the basis of material, nonpublic information concerning an impending acquisition of Hudson United by TD Banknorth, Inc. Without admitting or denying the allegations of the complaint, Galamb has consented to the entry of a final judgment permanently enjoining him from engaging in the violations set forth below, and ordering him to pay disgorgement of $7,125, plus prejudgment interest of $412, and a civil penalty of $7,125. The Commission's complaint alleges that Hudson United was a bank holding company headquartered in Mahwah, New Jersey, operating 204 bank branches throughout several states. Sometime in June 2005, Galamb learned that Hudson United was in the process of being sold or acquired. At or around that time, another Hudson United employee, with whom Galamb had a close working relationship and who worked in Hudson United's corporate offices, told Galamb that, based on certain activity she had witnessed, she believed the bank was going to be sold. The employee told Galamb that there had been a "flurry of activity" that, from her experience, was consistent with acquisition and merger negotiations. The complaint further alleges that on July 7, 2005, in violation of his fiduciary duties to Hudson United and its shareholders, Galamb purchased 1,450 shares of Hudson United stock, paying $36.50 per share. Prior to the market opening on July 12, 2005, TD Banknorth announced that it would acquire Hudson United in a cash and stock transaction valued at approximately $42.78 per Hudson United share. On July 12, 2005, Hudson United's stock closed at $41.64 per share, an 11 percent increase over the previous day. On that same day, after the announcement, Galamb sold his shares, realizing an unlawful profit of $7,125. The complaint alleges that by his conduct, Galamb violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and seeks a permanent injunction, disgorgement together with prejudgment interest, and a civil penalty against Galamb. [SEC v. Joseph Galamb, Civil Action No. 07-cv-2743 (D.N.J.)] (LR-20153) SELF-REGULATORY ORGANIZATIONS ACCELERATED APPROVAL OF PROPOSED RULE CHANGE The Commission granted accelerated approval to a proposed rule change (SR-NYSEArca-2007-37) submitted by the NYSE Arca to list and trade shares of four funds of StateShares, Inc. Publication is expected in the Federal Register during the week of June 11. (Rel. 34-55890) IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGES A proposed rule change (SR-Phlx-2007-39) filed by the Philadelphia Stock Exchange relating to its payment for order flow pilot program has become effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of June 18. (Rel. 34-55891) A proposed rule change (SR-CBOE-2007-57) filed by the Chicago Board Options Exchange to adopt an interpretation to CBOE Rule 8.95 has become effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of June 18. (Rel. 34-55894) A proposed rule change (SR-ISE-2007-38) filed by the International Securities Exchange relating to payment for order flow fees has become effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of June 18. (Rel. 34-55895) A proposed rule change (SR-ISE-2007-41) filed by the International Securities Exchange relating to non-ISE market maker fees has become effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of June 18. (Rel. 34-55897) PROPOSED RULE CHANGES The NASDAQ Stock Market filed a proposed rule change (SR-NASDAQ-2007- 043) and Amendments No. 1 and 2 thereto under Section 19(b)(1) of the Securities Exchange Act of 1934 to remove from its rules provisions governing the operation of the ACES service. Publication is expected in the Federal Register during the week of June 18. (Rel. 34-55892) The National Stock Exchange filed a proposed rule change (SR-NSX-2007- 05) under Rule 19b-4 of the Securities Exchange Act of 1934 to modify Chapter VII of the exchange's rules regarding suspensions of an ETP Holder by certain exchange officers. Publication is expected in the Federal Register during the week of June 18. (Rel. 34-55893) SECURITIES ACT REGISTRATIONS The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue. Registration statements may be obtained in person or by writing to the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. 20549-1090 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . S-1 HEPALIFE TECHNOLOGIES INC, 60 STATE STREET, SUITE 700, BOSTON, MA, 02109, 800-518-4879 - 5,181,444 ($5,238,832.92) Equity, (File 333-143665 - Jun. 12) (BR. 10B) S-3ASR WEBSTER FINANCIAL CORP, WEBSTER PLAZA, 145 BANK ST, WATERBURY, CT, 06720, 2037532921 - 0 ($0.00) Other, (File 333-143668 - Jun. 12) (BR. 07B) S-8 PROGENICS PHARMACEUTICALS INC, 777 OLD SAW MILL RIVER ROAD, TARRYTOWN, NY, 10591, 9147892800 - 1,950,000 ($43,017,000.00) Equity, (File 333-143670 - Jun. 12) (BR. 01B) S-8 PROGENICS PHARMACEUTICALS INC, 777 OLD SAW MILL RIVER ROAD, TARRYTOWN, NY, 10591, 9147892800 - 800,000 ($17,648,000.00) Equity, (File 333-143671 - Jun. 12) (BR. 01B) SB-2 Pacific Software, Inc., 6517 GERKE PLACE, NANAIMO, A1, V9V1V8, 250-246-6258 - 300,000 ($150,000.00) Face Amount Certificates, (File 333-143672 - Jun. 12) (BR. 03) S-8 UFP TECHNOLOGIES INC, 172 EAST MAIN ST, GEORGETOWN, MA, 01833, 5083522200 - 0 ($3,840,000.00) Equity, (File 333-143673 - Jun. 12) (BR. 06A) S-4 PROSPERITY BANCSHARES INC, 4295 SAN FELIPE, N/A, HOUSTON, TX, 77027, 7136939300 - 0 ($375,075.00) Equity, (File 333-143674 - Jun. 12) (BR. 07B) S-8 BORLAND SOFTWARE CORP, 100 ENTERPRISE WAY, SCOTTS VALLEY, CA, 95066-3249, 8314311000 - 0 ($14,775,000.00) Equity, (File 333-143675 - Jun. 12) (BR. 03B) S-8 Porter Bancorp, Inc., 2500 EASTPOINT PARKWAY, LOUISVILLE, KY, 40223, 502-499-4800 - 0 ($2,294,000.00) Equity, (File 333-143676 - Jun. 12) (BR. 07A) S-8 LA JOLLA PHARMACEUTICAL CO, 6455 NANCY RIDGE DR, SAN DIEGO, CA, 92121, 8584526600 - 1,100,000 ($5,742,000.00) Equity, (File 333-143677 - Jun. 12) (BR. 01B) S-8 Porter Bancorp, Inc., 2500 EASTPOINT PARKWAY, LOUISVILLE, KY, 40223, 502-499-4800 - 0 ($13,626,451.76) Equity, (File 333-143678 - Jun. 12) (BR. 07A) S-8 DreamWorks Animation SKG, Inc., GRANDVIEW BUILDING, 1000 FLOWER STREET, GLENDALE, CA, 91201, (818) 695-5000 - 0 ($50,000,000.00) Other, (File 333-143679 - Jun. 12) (BR. 05A) S-3 MOTIENT CORP, 12010 SUNSET HILLS ROAD,, 6TH FLOOR, RESTON, VA, 20190, 703-483-7806 - 39,689,102 ($11.38) Equity, (File 333-143680 - Jun. 12) (BR. 11C) S-8 ACTIVIDENTITY CORP, 6623 DUMBARTON CIRCLE, FREMONT, CA, 94555, 5105741792 - 0 ($18,720,000.00) Equity, (File 333-143681 - Jun. 12) (BR. 03A) S-8 CODORUS VALLEY BANCORP INC, CODORUS VALLEY CORPORATE CENTER, 105 LEADER HEIGHTS ROAD, YORK, PA, 17403, 717-846-1970 - 175,000 ($3,386,250.00) Equity, (File 333-143682 - Jun. 12) (BR. 07B) S-8 CODORUS VALLEY BANCORP INC, CODORUS VALLEY CORPORATE CENTER, 105 LEADER HEIGHTS ROAD, YORK, PA, 17403, 717-846-1970 - 175,000 ($3,386,250.00) Equity, (File 333-143683 - Jun. 12) (BR. 07B) S-1 CENTRA FINANCIAL HOLDINGS INC, 990 ELMER PRINCE DR, POST OFFICE BOX 656, MORGANTOWN, WV, 26507-0656, 3045998121 - 1,000,000 ($20,000,000.00) Equity, (File 333-143684 - Jun. 12) (BR. 07B) RECENT 8K FILINGS Form 8-K is used by companies to file current reports on the following events: 1.01 Entry into a Material Definitive Agreement 1.02 Termination of a Material Definitive Agreement 1.03 Bankruptcy or Receivership 2.01 Completion of Acquisition or Disposition of Assets 2.02 Results of Operations and Financial Condition 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation under an Off-Balance Sheet Arrangement 2.05 Cost Associated with Exit or Disposal Activities 2.06 Material Impairments 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing 3.02 Unregistered Sales of Equity Securities 3.03 Material Modifications to Rights of Security Holders 4.01 Changes in Registrant's Certifying Accountant 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review 5.01 Changes in Control of Registrant 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year 5.04 Temporary Suspension of Trading Under Registrant's Employee Benefit Plans 5.05 Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics 6.01. ABS Informational and Computational Material. 6.02. Change of Servicer or Trustee. 6.03. Change in Credit Enhancement or Other External Support. 6.04. Failure to Make a Required Distribution. 6.05. Securities Act Updating Disclosure. 7.01 Regulation FD Disclosure 8.01 Other Events 9.01 Financial Statements and Exhibits 8-K reports may be obtained in person or by writing to the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. 20549-1090 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . STATE NAME OF ISSUER CODE 8K ITEM NO. DATE COMMENT ACA Capital Holdings Inc 5.02,9.01 06/07/07 ACTUANT CORP WI 1.01,8.01,9.01 06/06/07 ACUSPHERE INC DE 1.01,7.01,9.01 06/11/07 ADVANTA BUSINESS RECEIVABLES CORP 8.01,9.01 06/12/07 AFV SOLUTIONS, INC. NV 4.01,9.01 06/07/07 Aircastle LTD D0 1.01,2.03,9.01 06/08/07 ALLIANCE DATA SYSTEMS CORP DE 8.01 06/06/07 ALLIANCE ONE INTERNATIONAL, INC. VA 2.02,9.01 06/12/07 ALLIED CAPITAL CORP MD 8.01 06/07/07 ALONG MOBILE TECHNOLOGIES INC NV 1.01,8.01,9.01 05/17/07 Alpha Security Group CORP DE 8.01,9.01 06/12/07 Altra Holdings, Inc. DE 5.02 06/12/07 AMEND Altra Holdings, Inc. DE 8.01,9.01 06/12/07 AMEND AMEDIA NETWORKS, INC. DE 1.01,9.01 05/30/07 AMEREN CORP MO 8.01 05/31/07 AMERICAN METAL & TECHNOLOGY, INC. DE 2.01,4.01,5.01,5.02,5.03,9.01 05/22/07 AMEND AMERICAN VANGUARD CORP DE 5.02 06/07/07 AMERISTAR CASINOS INC NV 5.02 06/08/07 ANTHRACITE CAPITAL INC MD 1.01,9.01 06/06/07 ARBINET THEXCHANGE INC DE 5.02,8.01,9.01 06/11/07 ARBOR REALTY TRUST INC MD 1.01,9.01 06/07/07 ARBOR REALTY TRUST INC MD 8.01,9.01 06/12/07 Arbutus Resources, Inc. 3.02 05/29/07 ARCH COAL INC DE 7.01,9.01 06/12/07 ARCHSTONE SMITH OPERATING TRUST 1.01,2.03 06/12/07 ARCHSTONE SMITH TRUST MD 1.01,2.03 06/12/07 ASHWORTH INC DE 1.01,9.01 06/06/07 ASPECT MEDICAL SYSTEMS INC DE 1.01,1.02,7.01,9.01 06/11/07 ASTEC INDUSTRIES INC TN 1.01,9.01 06/12/07 ATWOOD OCEANICS INC TX 5.03,9.01 06/12/07 AURELIO RESOURCE CORP NV 3.02 06/08/07 BACK YARD BURGERS INC DE 1.01,7.01,9.01 06/10/07 BB&T CORP NC 8.01,9.01 06/12/07 BEAR STEARNS DEPOSITOR INC TRUST CERT 8.01,9.01 06/01/07 BEARD CO /OK OK 1.01,2.03,8.01,9.01 06/12/07 Behringer Harvard Opportunity REIT I, MD 2.01,2.03,9.01 06/06/07 BELL INDUSTRIES INC /NEW/ CA 8.01,9.01 06/11/07 BHIT INC DE 3.02 06/08/07 BIONOVO INC DE 5.02,9.01 06/12/07 BOTTLING GROUP LLC DE 5.02 06/11/07 Bronco Drilling Company, Inc. DE 7.01,9.01 06/12/07 BROOKE CORP KS 1.01,5.02,7.01,9.01 06/06/07 CABOT CORP DE 2.05 06/11/07 Cal Dive International, Inc. DE 1.01,8.01,9.01 06/11/07 CALPINE CORP DE 7.01,9.01 04/30/07 CANO PETROLEUM, INC 1.01,9.01 06/11/07 Cape Fear Bank CORP NC 7.01,9.01 06/12/07 CAPITAL GOLD CORP NV 5.02 06/06/07 CAPITAL ONE MASTER TRUST NY 8.01,9.01 06/11/07 CAPITAL PROPERTIES INC /RI/ RI 5.02,9.01 06/11/07 CAPITAL RESOURCE FUNDING INC NC 7.01,9.01 06/11/07 CAPITAL TRUST INC MD 5.02,9.01 06/07/07 CARLISLE COMPANIES INC DE 5.02,9.01 06/12/07 CATALYST SEMICONDUCTOR INC DE 5.03,9.01 06/06/07 CATO CORP DE 5.02,9.01 06/11/07 CBRL GROUP INC TN 7.01,9.01 06/11/07 Centerplate, Inc. DE 1.01,9.01 06/08/07 CENTRUS VENTURES INC. NV 5.03,7.01,9.01 06/08/07 CERTO GROUP CORP. DE 5.02 06/11/07 CHART INDUSTRIES INC DE 8.01,9.01 06/06/07 CHESAPEAKE ENERGY CORP OK 5.02 06/08/07 China Shenghuo Pharmaceutical Holding 7.01,9.01 06/07/07 China Shenghuo Pharmaceutical Holding 5.02 06/07/07 CHUBB CORP NJ 5.02 06/08/07 CHURCHILL DOWNS INC KY 1.01,2.01,9.01 06/11/07 CIENA CORP DE 1.01,9.01 06/11/07 CIGNA CORP DE 7.01 06/12/07 CIT GROUP INC DE 8.01,9.01 06/11/07 CLEARCOMM L P DE 5.02 05/31/07 CLEVELAND CLIFFS INC OH 7.01,9.01 06/11/07 CLIFTON SAVINGS BANCORP INC 5.04,9.01 04/26/07 COGENT COMMUNICATIONS GROUP INC 1.01,2.03,3.02,8.01,9.01 06/06/07 COLOMBIA GOLDFIELDS LTD 2.03 06/12/07 COMBINATORX, INC DE 8.01,9.01 06/12/07 COMBINATORX, INC DE 1.01,9.01 06/12/07 COMMERCE ENERGY GROUP, INC. DE 1.01,2.02,9.01 06/11/07 COMMONWEALTH BIOTECHNOLOGIES INC VA 1.01,2.01,9.01 06/06/07 COMVERSE TECHNOLOGY INC/NY/ NY 2.02,9.01 06/11/07 CONSOLIDATED MEDICAL MANAGEMENT INC MT 1.01,4.01 04/05/07 AMEND Copano Energy, L.L.C. DE 7.01,9.01 06/07/07 COUNTRYWIDE FINANCIAL CORP DE 2.02,9.01 06/12/07 COVAD COMMUNICATIONS GROUP INC DE 1.01,9.01 06/07/07 CROSS COUNTRY HEALTHCARE INC DE 1.01,8.01,9.01 06/06/07 CrossPoint Energy CO NV 5.02 06/06/07 CROWN NORTHCORP INC DE 2.01,9.01 10/26/06 CSG SYSTEMS INTERNATIONAL INC DE 7.01,9.01 06/10/07 CYBERONICS INC DE 2.02,9.01 06/11/07 DAG MEDIA INC NY 8.01,9.01 06/12/07 DECODE GENETICS INC DE 1.01,2.01,2.03 06/08/07 DENDREON CORP DE 1.01,8.01,9.01 06/11/07 DIAMOND OFFSHORE DRILLING INC DE 7.01,9.01 06/11/07 DIGITAL RECORDERS INC NC 7.01,9.01 06/12/07 Discover Financial Services DE 1.01,5.02,7.01,8.01,9.01 06/06/07 Discover Financial Services DE 2.03,8.01,9.01 06/12/07 Dividend Capital Total Realty Trust I MD 1.01,9.01 06/07/07 DREAMS INC UT 8.01,9.01 06/06/07 AMEND DreamWorks Animation SKG, Inc. 5.02,9.01 06/07/07 DUSKA THERAPEUTICS, INC. NV 1.01,3.02,9.01 06/08/07 DYNAMIC MATERIALS CORP DE 5.02,8.01,9.01 06/06/07 ECASH, INC DE 1.01,5.01,5.02,9.01 06/06/07 AMEND EDGEWATER TECHNOLOGY INC/DE/ DE 5.02 06/06/07 Emergency Medical Services CORP DE 7.01,9.01 06/11/07 EMERITUS CORP\WA\ WA 8.01,9.01 05/22/07 EON COMMUNICATIONS CORP DE 8.01,9.01 06/12/07 EV Energy Partners, LP DE 8.01,9.01 06/12/07 AMEND EVANS SYSTEMS INC TX 1.01,9.01 06/01/07 EXCO RESOURCES INC TX 9.01 03/28/07 AMEND EXIDE TECHNOLOGIES DE 2.02,5.02,9.01 06/05/07 FAIRPOINT COMMUNICATIONS INC DE 5.02 06/08/07 Federal Home Loan Bank of Atlanta X1 2.03 06/06/07 Federal Home Loan Bank of Boston X1 2.03 06/06/07 Federal Home Loan Bank of Chicago X1 2.03 06/06/07 Federal Home Loan Bank of Cincinnati X1 2.03,9.01 06/06/07 Federal Home Loan Bank of Dallas 2.03,5.02 06/06/07 Federal Home Loan Bank of Des Moines X1 2.03,9.01 06/08/07 Federal Home Loan Bank of Indianapoli X1 2.03,9.01 06/06/07 Federal Home Loan Bank of New York X1 2.03,9.01 06/06/07 Federal Home Loan Bank of Pittsburgh PA 2.03,9.01 06/06/07 Federal Home Loan Bank of San Francis X1 2.03 06/06/07 Federal Home Loan Bank of Seattle 2.03 06/11/07 Federal Home Loan Bank of Topeka 2.03 06/06/07 FINISAR CORP DE 2.02,9.01 06/12/07 FIRST AMERICAN CAPITAL CORP /KS KS 5.03,8.01 06/07/07 FIRST BUSEY CORP /NV/ NV 8.01,9.01 06/12/07 FIRST CITIZENS BANC CORP /OH OH 1.01,9.01 06/07/07 FIRST CONSULTING GROUP INC DE 1.01,9.01 06/07/07 FIRSTPLUS FINANCIAL GROUP INC NV 4.01,5.01,5.02,8.01 06/07/07 FLUSHING FINANCIAL CORP DE 7.01,9.01 06/12/07 FMC TECHNOLOGIES INC DE 7.01,9.01 06/11/07 FOREST CITY ENTERPRISES INC OH 1.01,2.03,9.01 06/06/07 FORTUNE BRANDS INC DE 7.01,9.01 06/12/07 FRANKLIN ELECTRIC CO INC IN 7.01,9.01 06/07/07 GAMETECH INTERNATIONAL INC DE 9.01 03/28/07 AMEND GAMEZNFLIX INC NV 1.02,8.01 05/29/06 GENAERA CORP DE 5.02,9.01 06/07/07 GENESIS MICROCHIP INC /DE DE 5.02 06/11/07 GEORGIA POWER CO GA 8.01,9.01 06/04/07 GLATFELTER P H CO PA 1.01,2.03 06/08/07 GMX RESOURCES INC OK 7.01,9.01 06/11/07 GRACO INC MN 5.02,9.01 06/11/07 GRANT PARK FUTURES FUND LIMITED PARTN IL 7.01 06/08/07 GREENFIELD ONLINE INC DE 5.02 06/06/07 GULF POWER CO ME 8.01,9.01 06/05/07 HARTFORD LIFE INSURANCE CO CT 9.01 06/12/07 HARVEY ELECTRONICS INC NY 1.01,9.01 06/07/07 HAYNES INTERNATIONAL INC DE 1.01,5.02,9.01 06/08/07 HAYNES INTERNATIONAL INC DE 7.01,9.01 06/12/07 HealthSpring, Inc. DE 8.01,9.01 06/12/07 HEARTLAND PAYMENT SYSTEMS INC DE 5.02,9.01 06/06/07 HELIX ENERGY SOLUTIONS GROUP INC MN 8.01,9.01 06/11/07 Hiland Holdings GP, LP DE 5.02,9.01 06/11/07 Hiland Partners, LP 5.02,9.01 06/11/07 HINES REAL ESTATE INVESTMENT TRUST IN 1.01,8.01 06/04/07 HOME EQUITY MORTGAGE LOAN ASSET-BACKE DE 9.01 05/23/07 HORIZON OFFSHORE INC DE 1.01,8.01,9.01 06/11/07 IDEXX LABORATORIES INC /DE DE 5.02 06/07/07 IHS Inc. DE 1.01,2.01,9.01 06/12/07 IMMERSION CORP DE 5.02,8.01,9.01 06/06/07 IMMTECH PHARMACEUTICALS, INC. DE 5.03,9.01 06/06/07 IMPAX LABORATORIES INC DE 8.01 06/12/07 IndyMac INDX Mortgage Loan Trust 2006 8.01,9.01 06/11/07 INFINERA CORP DE 5.03,8.01,9.01 06/12/07 INFORM WORLDWIDE HOLDINGS INC CO 1.01,3.02 05/25/07 INSIGNIA SOLUTIONS PLC 1.01,8.01,9.01 06/04/07 INTEGRA LIFESCIENCES HOLDINGS CORP DE 1.01,2.03,3.02,8.01,9.01 06/06/07 INTEGRATED SURGICAL SYSTEMS INC DE 5.02 06/07/07 INTELLI CHECK INC DE 8.01 06/06/07 INTELLI CHECK INC DE 5.02,9.01 06/06/07 INTELLIGENTIAS, INC. 1.01,2.01,9.01 06/07/07 INTER TEL (DELAWARE), INC DE 8.01,9.01 06/12/07 INTER TEL (DELAWARE), INC DE 8.01,9.01 06/11/07 INTERNAP NETWORK SERVICES CORP DE 8.01,9.01 06/12/07 INTERNATIONAL TEXTILE GROUP INC DE 1.01,2.03,3.02,9.01 06/06/07 INTERPLAY ENTERTAINMENT CORP DE 8.01 06/11/07 INVERNESS MEDICAL INNOVATIONS INC DE 1.01,3.03,8.01,9.01 06/12/07 INVERNESS MEDICAL INNOVATIONS INC DE 8.01,9.01 06/12/07 IONATRON, INC. DE 8.01 06/11/07 AMEND IPARTY CORP DE 5.02,9.01 06/06/07 IPSCO INC 8.01,9.01 06/12/07 IRIDEX CORP DE 1.01 06/07/07 IROBOT CORP DE 1.01 06/05/07 AMEND ISCO INTERNATIONAL INC DE 5.02,7.01,9.01 06/12/07 IXI Mobile, Inc. DE 2.01,2.02,3.02,3.03,5.01,5.02, 06/06/07 5.03,5.06,9.01 J P MORGAN CHASE & CO DE 9.01 06/08/07 JAMES RIVER GROUP, INC DE 1.01,5.01,5.02,9.01 06/11/07 JANUS CAPITAL GROUP INC DE 1.01,9.01 06/07/07 Jazz Technologies, Inc. DE 5.02 06/07/07 JOURNAL REGISTER CO DE 5.02,7.01,9.01 06/08/07 KAISER ALUMINUM CORP DE 8.01,9.01 06/06/07 KAYNE ANDERSON ENERGY DEVELOPMENT CO MD 8.01,9.01 06/11/07 LAPOLLA INDUSTRIES INC DE 5.02 06/11/07 LAWSON PRODUCTS INC/NEW/DE/ DE 5.02 06/11/07 LEGEND MOBILE INC DE 3.02 06/08/07 LEHMAN ABS CORP DAIMLERCHRYSLER DEBEN DE 8.01 06/08/07 LEHMAN BROTHERS HOLDINGS INC DE 2.02,9.01 06/12/07 LEHMAN BROTHERS HOLDINGS INC DE 9.01 06/06/07 LifeCare Holdings, Inc. DE 1.01,2.03,9.01 06/06/07 LIFETIME BRANDS, INC DE 1.01,9.01 06/11/07 LUBYS INC DE 2.02,9.01 05/09/07 M45 Mining Resources, Inc. NV 7.01,9.01 06/12/07 Macquarie Infrastructure CO Trust DE 1.01,2.03 06/07/07 MAGELLAN HEALTH SERVICES INC DE 8.01 06/12/07 MAIN STREET TRUST INC IL 8.01,9.01 06/12/07 Malibu Minerals Inc. NV 5.02,9.01 06/11/07 McAfee, Inc. DE 5.02 06/06/07 MCGRATH RENTCORP CA 5.02,7.01,9.01 06/06/07 MEDUSA STYLE CORP NV 1.01 06/08/07 MELLON FINANCIAL CORP PA 8.01,9.01 06/12/07 METALLINE MINING CO NV 1.01,3.03,9.01 06/11/07 MICROHELIX INC OR 8.01 06/08/07 MICROMED CARDIOVASCULAR INC DE 5.02,9.01 06/12/07 MIDWEST AIR GROUP INC WI 7.01,9.01 06/12/07 MIGO SOFTWARE, INC. DE 1.01,2.01,3.02,3.03,5.03,9.01 06/06/07 Montagu Resources Corp. NV 1.01,5.01,5.02,9.01 05/28/07 MOVIE GALLERY INC DE 7.01 06/12/07 Mueller Water Products, Inc. DE 7.01,9.01 06/12/07 Mueller Water Products, Inc. DE 8.01 05/24/07 AMEND N-VIRO INTERNATIONAL CORP DE 5.02,8.01,9.01 06/07/07 Nano Holdings International, Inc. DE 8.01 06/06/07 National Collegiate Student Loan Trus 8.01,9.01 06/11/07 NATIONAL HEALTH INVESTORS INC MD 8.01 06/11/07 NATIONAL REALTY & MORTGAGE INC NV 1.01,2.01,3.02,3.03,4.01,5.01, 06/06/07 5.06,8.01,9.01 NATIONAL SEMICONDUCTOR CORP DE 9.01 06/07/07 AMEND NAVTEQ CORP DE 5.02 06/07/07 NEKTAR THERAPEUTICS DE 5.02 06/06/07 NEW CENTURY FINANCIAL CORP MD 2.01,5.02,9.01 05/18/07 NEW MEDIUM ENTERPRISES INC NV 3.02 06/12/07 NEWS CORP 8.01,9.01 06/08/07 NEWSEARCH INC CO 5.02,9.01 06/12/07 NNN Apartment REIT, Inc. MD 7.01,9.01 06/12/07 NNN Healthcare/Office REIT, Inc. MD 7.01,9.01 06/12/07 NORFOLK SOUTHERN CORP VA 8.01,9.01 06/12/07 NORTHSTAR REALTY 8.01,9.01 06/11/07 NORTHWEST AIRLINES CORP DE 7.01,9.01 06/12/07 NOVA BIOSOURCE FUELS, INC. NV 7.01,9.01 06/11/07 NOVADEL PHARMA INC DE 5.02 06/06/07 NOVASTAR FINANCIAL INC MD 7.01,9.01 06/12/07 NT HOLDING CORP. DE 1.01,2.01,5.01 06/06/07 NTS REALTY HOLDINGS LP DE 8.01,9.01 06/12/07 NU HORIZONS ELECTRONICS CORP DE 1.01,9.01 06/06/07 Oculus Innovative Sciences, Inc. CA 2.02,7.01,9.01 06/07/07 OPSWARE INC DE 5.02 06/06/07 ORTEC INTERNATIONAL INC DE 3.03 06/10/07 OUTDOOR CHANNEL HOLDINGS INC 5.02 06/06/07 OUVO, INC. 3.03,5.03,9.01 06/06/07 PACTIV CORP DE 1.01,2.01,2.03,9.01 06/11/07 Paradigm Holdings, Inc WY 1.01,7.01,9.01 06/06/07 PENN NATIONAL GAMING INC PA 5.01,8.01,9.01 06/06/07 PENN VIRGINIA CORP VA 5.03,9.01 06/12/07 PENNANTPARK INVESTMENT CORP 8.01 06/12/07 PHHMC Series 2007-3 Trust DE 9.01 05/30/07 PIEDMONT NATURAL GAS CO INC NC 5.02 06/06/07 PLEXUS CORP WI 8.01,9.01 06/12/07 PORTLAND GENERAL ELECTRIC CO /OR/ OR 8.01 06/11/07 PRG SCHULTZ INTERNATIONAL INC GA 3.02 06/06/07 PROCTER & GAMBLE CO OH 5.02,9.01 06/12/07 ProLink Holdings Corp. DE 1.01,2.03 06/06/07 PROTECTIVE LIFE INSURANCE CO TN 9.01 06/07/07 PRUDENTIAL FINANCIAL INC NJ 5.02 06/12/07 PSI CORP NV 8.01 06/01/07 PSYCHIATRIC SOLUTIONS INC DE 5.02,9.01 06/11/07 Puda Coal, Inc. 1.01,9.01 06/06/07 QAD INC DE 8.01 06/07/07 RAMBUS INC DE 5.03,9.01 06/07/07 RBC Bearings INC 2.02,9.01 06/12/07 REFLECT SCIENTIFIC INC UT 4.02,9.01 05/09/07 Regency Energy Partners LP DE 9.01 04/02/07 AMEND RELIANT ENERGY INC DE 1.01,9.01 06/06/07 REPLIGEN CORP DE 7.01,9.01 06/08/07 REPROS THERAPEUTICS INC. DE 8.01,9.01 06/11/07 RETAIL VENTURES INC OH 3.02,8.01 06/06/07 RICHARDSON ELECTRONICS LTD/DE DE 5.02,7.01,9.01 06/06/07 RONSON CORP NJ 8.01,9.01 06/11/07 RUBIOS RESTAURANTS INC DE 5.02,9.01 06/11/07 RUSS BERRIE & CO INC NJ 5.02 06/07/07 SALEM COMMUNICATIONS CORP /DE/ DE 4.01,9.01 06/07/07 SAMARITAN PHARMACEUTICALS INC NV 5.02,9.01 06/12/07 SAPIENT CORP DE 2.02,8.01,9.01 06/12/07 SCHULMAN A INC DE 7.01,9.01 06/12/07 SCO GROUP INC DE 8.01 06/11/07 SecureLogic Corp NV 5.02 06/07/07 SELIGMAN SELECT MUNICIPAL FUND INC MD 7.01 06/12/07 SEMTECH CORP DE 5.02,8.01,9.01 06/06/07 Seneca Gaming Corp XX 8.01 06/06/07 SIERRA PACIFIC RESOURCES /NV/ NV 8.01,9.01 06/06/07 SIFCO INDUSTRIES INC OH 2.01,9.01 06/08/07 SMITHFIELD FOODS INC VA 5.02 06/06/07 SOLITRON DEVICES INC DE 5.02,9.01 06/04/07 AMEND SOURCEFIRE INC DE 8.01 06/07/07 SOUTH DAKOTA SOYBEAN PROCESSORS LLC 1.01 06/06/07 SPACEHAB INC \WA\ WA 5.02,9.01 06/12/07 SPEAR & JACKSON INC NV 8.01 05/29/07 SPECTRUM PHARMACEUTICALS INC DE 5.02 06/08/07 SPECTRX INC DE 8.01 06/11/07 SPECTRX INC DE 5.02 06/12/07 STEWART ENTERPRISES INC LA 2.02,9.01 06/12/07 STONELEIGH PARTNERS ACQUISITION CORP. DE 8.01 06/12/07 STRATECO RESOURCES INC 3.01 06/11/07 STRATS SM TRUST FOR IBM CORP SEC SERI 8.01,9.01 05/29/07 Sub-Urban Brands, Inc. NV 1.01,2.03,3.02,9.01 06/06/07 SUPERTEL HOSPITALITY INC VA 8.01 05/24/07 TAKE TWO INTERACTIVE SOFTWARE INC DE 2.02,9.01 06/11/07 TANDY BRANDS ACCESSORIES INC DE 5.02,9.01 06/06/07 TAUBMAN CENTERS INC MI 8.01,9.01 06/11/07 TITANIUM METALS CORP DE 3.01,5.02 06/05/07 TRIAD FINANCIAL CORP CA 5.02 06/06/07 TRIAD HOSPITALS INC DE 8.01,9.01 06/12/07 TRIPOS INC UT 1.01,2.01,8.01,9.01 06/06/07 TRIUMPH GROUP INC / DE 5.02,9.01 06/06/07 TYCO INTERNATIONAL LTD /BER/ D0 7.01,9.01 06/07/07 U S GOLD CORP CO 7.01,9.01 06/12/07 UAP HOLDING CORP DE 5.02 06/07/07 UCN INC DE 5.05,8.01,9.01 06/07/07 UFP TECHNOLOGIES INC DE 5.02 06/06/07 ULTRALIFE BATTERIES INC DE 5.02 06/06/07 UNITED COMMUNITY BANKS INC GA 7.01,9.01 06/12/07 UNIVERSAL FOG INC 5.02 06/08/07 US FARMS, INC. NV 3.02 04/03/07 USAA ACCEPTANCE LLC 8.01,9.01 06/12/07 USAA Auto Owner Trust 2007-1 8.01,9.01 06/12/07 UTi WORLDWIDE INC 7.01 06/12/07 Venoco, Inc. DE 5.02 06/08/07 VERTEX PHARMACEUTICALS INC / MA MA 8.01,9.01 06/12/07 VERTRUE INC DE 2.04,8.01,9.01 06/11/07 VFINANCE INC DE 5.02,9.01 06/06/07 VioQuest Pharmaceuticals, Inc. DE 1.01,9.01 06/08/07 Voyant International CORP NV 7.01,9.01 06/12/07 Wauwatosa Holdings, Inc. WI 5.02,8.01 06/12/07 WCI COMMUNITIES INC 8.01,9.01 06/12/07 WHERIFY WIRELESS INC DE 5.02 06/06/07 XCEL ENERGY INC MN 2.02,9.01 06/12/07 XEDAR CORP CO 1.01,9.01 06/08/07 XETA TECHNOLOGIES INC OK 5.02 06/07/07 YADKIN VALLEY FINANCIAL CORP NC 8.01,9.01 06/12/07 YOUBET COM INC DE 1.01,9.01 06/06/07 ZIX CORP TX 8.01,9.01 06/07/07