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Pomeroy founder ends pursuit of firm

October 10 2008

Pomeroy IT Solutions Inc. (NASD: PMRY), a Hebron KY-based information technology services and staffing firm, said its founder and largest shareholder withdrew his bid to buy the company and take it private. David Pomeroy had offered on May 22 to acquire all stock not already owned by him for $6 a share with ComVest financial as his partner.

The company also said a lawsuit filed against the company and ComVest over the deal has been dismissed. The suit had sought to prevent the acquisition of the company, according to a filing with the U.S. Securities and Exchange Commission.

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