Six Year Battle for Liquidity, The Kinko's Family Feud
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.
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For: “Family Feud” - 6/10/02 - Written by RiShawn Biddle
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