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Point Blank Solutions recieves notice from Steel Partners
18
Apr '08
Point Blank Solutions Inc has received notice of a lawsuit filed last night by Steel Partners II, L.P., seeking to compel the Company to hold its annual meeting of stockholders.

The Company believes that the lawsuit filed by Steel Partners in Delaware last night is without merit. The Board of Directors has scheduled the annual meeting for August 19, 2008.

As previously announced, the Board intends to continue to pursue all strategic alternatives, including a possible sale, to maximize stockholder value.

The Company has engaged Wachovia Securities as its financial advisor for the process of pursuing strategic alternatives.

Point Blank Solutions Inc is a leader in the design and production of technologically advanced body armor systems for the U.S. Military, Government and law enforcement agencies, as well as select international markets.

Point Blank Solutions Inc

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