Offering of 2.1 Million Shares Deferred Due to Market Conditions
ANNAPOLIS, Md., Nov. 26 /PRNewswire-FirstCall/ -- FTI Consulting, Inc.
(NYSE: FCN), the premier national provider of bankruptcy, financial
restructuring and litigation-related consulting services, today announced that
it has decided to defer its planned equity offering of 2.1 million shares
based on the volatility of the general equity markets and the company's common
stock.
The Company stated that it will continue the registration process and
monitor the situation so that it can respond quickly if, as and when, in its
judgment, market conditions improve. The offering would not be expected to
occur until the first quarter of 2003.
A registration statement relating to the company's common stock has been
filed with the Securities and Exchange Commission but has not yet become
effective. This common stock may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes effective. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
About FTI Consulting
FTI Consulting is a multi-disciplined consulting firm with leading
practices in the areas of bankruptcy, financial restructuring and litigation-
related services. Modern corporations, as well as those who advise and invest
in them, face growing challenges on every front. From a proliferation of
"bet-the-company" litigation to increasingly complicated relationships with
lenders and investors in an ever-changing global economy, U.S. companies are
turning more and more to outside experts and consultants to meet these complex
issues. FTI is dedicated to helping corporations, their advisors, lawyers,
lenders and investors meet these challenges by providing a broad array of the
highest quality professional practices from a single source.
This press release includes "forward-looking" statements that involve
uncertainties and risks. There can be no assurance that actual results will
not differ from the company's expectations. The company has experienced
fluctuating revenues, operating income and cash flow in some prior periods and
expects this may occur from time to time in the future. As a result of these
possible fluctuations and uncertainty surrounding the state of the U.S. equity
market, the company's actual course of action may differ from that set forth
above. Other factors that could cause such a difference include pace and
timing of additional acquisitions, competitive and general economic
conditions, and other risks described in the company's filings with the
Securities and Exchange Commission.
FTI is on the Internet at http://www.fticonsulting.com .
SOURCE FTI Consulting, Inc.
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Related links:
http://www.fticonsulting.com
CONTACT:
Jack Dunn, Chairman & CEO of FTI Consulting,
+1-410-224-1483; or General Inquiries, Marilyn Windsor,
+1-702-515-1260, Analyst Inquiries, Lisa Fortuna,
+1-312-640-6779, or Media Inquiries, Tim Grace, +1-312-640-6667,
all of FRB Weber Shandwick
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