Investigation halts trading of Koss Corp. stock; Jefferson Wells expands with new alliance in Brazil; Northwestern Mutual ranks high in workplace survey; Delafield health venture raises $4 million in financing
Investigation halts trading of Koss Corp. stock
Koss Corp., the Milwaukee-based high-fidelity stereophone leader, requested that the NASDAQ Stock Exchange immediately halt trading of its securities Monday after discovering information regarding certain “unauthorized transactions.” The NASDAQ exchange stopped trading Koss’ stock by late morning Monday.
The Koss board of directors has appointed a special committee of independent directors to lead an internal investigation involving the unauthorized transactions and determine the effect, if any, on Koss’ financial statements. Law enforcement also is assisting Koss Corp. with the matter.
The company said Sujata Sachdeva, vice president of finance and secretary of Koss Corp., was placed on unpaid administrative leave pending the results of the investigation.
The company’s stock is traded under the ticker symbol KOSS.
Jefferson Wells expands with new alliance in Brazil
Jefferson Wells, a Milwaukee-based provider of risk advisory, tax, and finance and
accounting-related services, announced it has established an alliance with Baker Tilly Brasil, an independent member of the international accounting and consultancy network, Baker Tilly International.
The alliance agreement marks Jefferson Wells’ fourth alliance this year and is its first expansion into South America.
“As our clients assess the economy with an eye on strategic growth, they look to Jefferson Wells as a partner that can provide meaningful guidance, expertise and resources to maximize the value of their current initiatives and plan for the future,” said Michael Touhey, president and chief operating officer of Jefferson Wells. “Baker Tilly Brasil has built a reputation for delivering superior technical and industry-focused services to their clients in South America. We look forward to working together to further enhance our ability to deliver the right talent and expertise to clients with operations in Brazil and South America.”
Brazil has a growing economy that is expected to receive a boost with its recent successful bid for the Olympics in 2016. The country is poised for growth in its demand for business advisory services in industries such as construction, energy, financial services, tourism and leisure, and manufacturing, according to Jefferson Wells.
“This alliance will allow us to better serve our clients by tapping into Jefferson Wells’ unmatched global talent, expertise, and their depth and breadth of services,” said Osvaldo Roberto Nieto, managing partner with Baker Tilly Brasil. “Jefferson Wells is well-respected in the professional services arena and has a firmly established presence worldwide, making it an excellent partner. Together we can leverage our collective world class leading practices and tools to better serve our clients.”
Headquartered in Sao Paulo, Baker Tilly Brasil began in 1994 as an independent member of Baker Tilly International.
Jefferson Wells is a global provider of professional services in the areas of risk advisory, tax, and finance and accounting-related services. Jefferson Wells is an independently operating, wholly owned subsidiary of Milwaukee-based Manpower Inc.
Northwestern Mutual ranks high in workplace survey
Northwestern Mutual Life Insurance Inc. is the “Best Place to Work” in the insurance industry and is the 11th-best place to work in America overall, according to survey results from Glassdoor.com, an online career and workplace community.
Milwaukee-based Northwestern Mutual is the only insurance company in Glassdoor’s Top 50 “Best Places to Work in 2010.”
In addition, Northwestern Mutual chairman and chief executive officer Edward Zore ranks as the most popular insurance company CEO in America, receiving an 89-percent approval rating from Northwestern Mutual home office employees and independently contracted financial representatives, according to the survey.
The Top 50 were selected from more than 38,000 companies reviewed by the nearly 70,000 employees/contractors who completed a 20-question survey on Glassdoor.com, addressing key workplace factors including work/life balance, career opportunities, communication, compensation and benefits, employee morale, recognition and feedback, senior leadership as well as fairness and respect. Users were also asked if they approved or disapproved of their company’s CEO.
To view the full list, visit www.glassdoor.com.
Delafield health venture raises $4 million in financing
Delafield-based My Health Direct Inc. announced that it has received $4 million in venture capital financing led by Chrysalis Ventures.
The company also announced that David A. Jones Jr., Chrysalis Ventures chairman and managing director, has joined the firm’s board.
My Health Direct is a provider of web-based access management solutions to health care providers and payers. The company’s platform enables users to search for, compare features of, and schedule appointments with health care providers broadly throughout an entire community or network. As a result, patients receive proper care quickly, while customers using My Health Direct cut costs by directing patients to the most appropriate health care professional.
“Since we founded the company in 2006, our Software-as-a-Service platform has helped hospitals significantly reduce overcrowding in their emergency rooms in a cost-effective manner,” said Jay Mason, founder and chief executive officer of My Health Direct. “With this new capital, we’re hiring sales and support professionals, and are focused on accelerating our expansion, both geographically and beyond the emergency room. We’re getting significant traction with health plans, state health agencies, managed care organizations and community health coalitions, who are interested in an easy-to-use tool that connects patients to the appropriate health care professional in a way that saves time and money.”
Founded in 1993, Chrysalis Ventures m
