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Six Year Battle for Liquidity, The Kinko's Family Feud

Wednesday, May 29, 2002

Press release from the issuing company

May 29, 2002 -- FORBES: Six years ago Paul Orfalea, the founder of Kinko's, and his partners handed over the keys to their printing empire to buyout firm - Clayton, Dubilier & Rice. They're still waiting for a payday. Orfalea has hired lawyers and an investment banker. He is looking to sue Kinko's and Clayton, Dubilier & Rice for refusing to issue the same earnings projections to the smaller shareholders that it allegedly provides to AOL Time Warner and J.P. Morgan Chase, which each hold 11.5% stakes. Orfalea blames Clayton, Dubilier & Rice for the company's decline of 56% in net income since 1996; it was $60 million last year on revenue of $2 billion. See this story at: http://www.forbes.com/forbes/2002/0610/054_print.html Permission and Linking License Granted by: Forbes, Inc. Forbes Building 60 Fifth Avenue New York, NY 10011 For: “Family Feud” - 6/10/02 - Written by RiShawn Biddle

 

 

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