This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CVSL And The Longaberger Company Sign Definitive Agreement

DALLAS, March 15, 2013   /PRNewswire/ -- Computer Vision Systems Laboratories Corp. (OTC: CVSL) and The Longaberger Company announced today that a definitive agreement has been signed to bring Longaberger into CVSL's direct selling strategy, and that the boards of directors of both companies have unanimously approved the transaction.

"This is a great day for The Longaberger Company.  It's fitting that in our 40 th anniversary year we can fulfill my father's dream that our sales field and employees will have the opportunity to share in ownership of our business," said president and CEO Tami Longaberger

On January 11, 2013, CVSL and Longaberger announced that a letter of intent had been signed for the transaction, in which publicly-held CVSL would acquire a controlling interest in Longaberger, which then would participate in CVSL's strategy for growth in the direct selling channel.   

"Our vision is that CVSL will be a worldwide champion of micro-enterprise, where anyone can find fulfillment, belonging and economic benefit in a family of outstanding companies, each of which will keep its own separate identity," said CVSL chairman John Rochon

"We are delighted that Longaberger is the first company to join us.  We will continue our effort to identify additional direct selling companies that will make a good fit within our CVSL family," said Mr. Rochon.  

Under the agreements signed today and approved by both companies' boards, CVSL will acquire a controlling voting interest in privately-held Longaberger, in exchange for shares of CVSL stock to Ms. Longaberger. 

"Since announcing in January the exciting news of our intent to join forces with CVSL, we've worked diligently to keep the recapitalization process moving," said Ms. Longaberger. "We're thrilled that our effort has come to a successful conclusion.  Now we can move forward as a proud member of the CVSL family.  There are so many benefits to The Longaberger Company, our sales field, our employees and our customers, and we're excited about this giant step for everyone associated with The Longaberger Company," she said.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.21 -0.44%
FB $117.80 -0.22%
GOOG $701.26 0.80%
TSLA $211.34 -5.00%
YHOO $36.94 2.61%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs