ST. LOUIS, Jul 1, 2002 (BUSINESS WIRE) -- TALX Corporation (NASDAQ: TALX) filed
its 10-K effective today and disclosed the following: "The Securities and
Exchange Commission is conducting an investigation into our August 2001
secondary offering of common stock and second fiscal quarter 2001 financial
results. We are cooperating fully with the investigation, and have voluntarily
produced documents requested by the Commission and have made our employees
available for interviews or testimony upon request. We believe that there is no
basis for any action by the Commission."
The inquiries by the SEC cover substantially the same matters involved in the
previously disclosed class action suits against the company.
William W. Canfield, chairman and chief executive officer, stated, "We are
cooperating fully with the Commission. The SEC has made no allegations against
the Company or any of its officers, directors, or personnel. Furthermore, we
believe that there is no basis for any action by the Commission."
TALX Corporation is a leading Business Process Outsourcer (BPO) for payroll
data-centric services. TALX holds a leadership position in two key
employment-related services - automated employment and income verification
services via The Work Number(R) and unemployment cost management services
through The Frick Company and the unemployment cost management business of Gates
McDonald. TALX is also a leading provider of automated benefits enrollment
services and a provider of automated time entry service. Based in St. Louis,
Missouri, TALX Corporation's common stock trades on the NASDAQ Stock Market(R)
under the symbol TALX. For more information about TALX Corporation call
314-214-7000 or access the company's Web site at www.talx.com.
Statements in this news release expressing the beliefs and expectations of
management regarding the outcome of the SEC investigation are forward-looking
statements. These statements reflect our current views with respect to future
events and are based on assumptions and subject to risks and uncertainties.
These risks, uncertainties and other factors may cause the actual outcome to be
materially different from those expressed or implied by our forward-looking
CONTACT: TALX Corp., St. Louis
Craig N. Cohen, 314/214-7000
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