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- After the agreement was signed, bank officials advised ATI that the Glendale, Calif., company didn't meet certain criteria for similar agreements.
- Yesterday, ATI shares were selling at $3.50, up 12.5 cents, before trading was halted on the American Stock Exchange for the merger announcement.
- In American Stock Exchange composite trading, ATI was unchanged at $10.375.
- Other small superstars include ATI Medical, a Glendale, Calif., company that rents medical equipment to movie and television studios as well as hospitals, which is up 104% from the $3.50 bid price at which the shares first traded May 20.
- Mr. Stevenson said that Mr. Kaufman, a venture capitalist who was one of the original investors in the company, has never had any operations or management responsibilities with ATI Medical.
- ATI has about 5.3 million common shares outstanding.
- In American Stock Exchange composite trading, ATI closed at $11.75 a share, up 12.5 cents.
- Paul Stevenson, ATI's president and chief executive, said that the resignation resulted from difficulties Mr. Kaufman had executing a recent open-market attempt to buy 400,000 shares of ATI common stock.
- Paul Stevenson, ATI's president and chief executive, said that the resignation resulted from difficulties Mr. Kaufman had executing a recent open-market attempt to buy 400,000 shares of ATI common stock.
- Neither ATI nor its officers have been charged with any crime, and the company has denied any wrongdoing.
- The company said it believes the resulting order imbalance in ATI stock may have caused the recent sharp decline in the stock's price.
- Both parties deny the claim. ATI, based in Shipley, West Yorkshire, is one of several school operators that have collapsed since February.