Rks Financial Group Inc

Otra Securities Group Inc., a financial services concern based in Glendale, has changed its name to RKS Financial Group Inc. The change was made after the company's stockholders approved the new name at a special meeting May 22. RKS Financial Chairman William Stratton said the change reflects the company's expansion from being largely a securities trading clearinghouse to also providing securities brokerage, business evaluation and other financial services.

In a move that will almost certainly trigger a grueling proxy fight, ICN Pharmaceuticals Inc. said Thursday that it has set a date for its long-delayed annual stockholders meeting. ICN spokesman Jack Sholl said the meeting, which has been put off for the past five months, is now scheduled for Dec. 15.

RKS Financial Group Inc. of Glendale said it has signed a letter of intent with GulfWest Energy Inc. to underwrite a $3-million public stock offering that will enable the Texas company to buy oil and natural gas reserves and develop its business. William Stratton, chairman of RKS, said the plan to underwrite the offering was part of RKS's strategy to diversify. RKS, formerly known as Otra Securities Group Inc., is a clearing service for brokerage houses.

Rafi Khan, the stockbroker who led a drive to oust the founder of ICN Pharmaceuticals Inc. in Costa Mesa, has resigned as a director of the Beverly Hills brokerage where he worked, the company said Thursday. Khan's oral resignation from the seven-member board of RKS Financial Group Inc. and its brokerage unit, Reynolds Kenrick & Stratton, was effective Wednesday, general counsel Garry McAllister said. "Mr. Khan made the decision on his own," McAllister said. "He really didn't give any reasons.

In a move that will almost certainly trigger a grueling proxy fight, ICN Pharmaceuticals Inc. said Thursday that it has set a date for its long-delayed annual stockholders meeting. ICN spokesman Jack Sholl said the meeting, which has been put off for the past five months, is now scheduled for Dec. 15.

Rafi Khan, the stockbroker who led a drive to oust the founder of ICN Pharmaceuticals Inc. in Costa Mesa, has resigned as a director of the Beverly Hills brokerage where he worked, the company said Thursday. Khan's oral resignation from the seven-member board of RKS Financial Group Inc. and its brokerage unit, Reynolds Kenrick & Stratton, was effective Wednesday, general counsel Garry McAllister said. "Mr. Khan made the decision on his own," McAllister said. "He really didn't give any reasons.

A federal judge in New York cleared a roadblock Tuesday that had barred controversial investor Rafi Khan, a onetime broker, from mounting a fight for control of ICN Pharmaceuticals Inc. U.S. District Judge John Sprizzo ruled that Khan had disclosed enough about his own legal entanglements to let shareholders decide whether to vote for him and his slate of directors at the Costa Mesa company's annual meeting, which was postponed last spring and has yet to be rescheduled.

A majority of the region's stocks fell during the third quarter, a performance that trailed the overall stock market's modest improvement in the period. The weakness in local stocks extended a slide that began in the second quarter, when three out of four area shares declined. Both quarters' slides abruptly halted a strong showing for local stocks in early 1992, when investors were more encouraged about the economy's growth prospects.

Rafi M. Khan and Milan Panic have much in common: Both are immigrants who found wealth in the United States and both are colorful executives who stand out in the often bland, button-down milieu of business. And each man's business dealings are wreathed in controversy. Once allies in the promotion of Costa Mesa-based ICN Pharmaceuticals Inc.

Opening salvos were fired this week in a battle for control of ICN Pharmaceuticals Inc., a Costa Mesa company that has come under fire from a dissident stockholder intent on toppling its board of directors. Rafi M. Khan, once one of ICN's most ardent followers, is now its chief detractor. In spring, he threatened to launch a proxy fight to unseat Milan Panic, who founded the drug company in 1960, and the other eight directors.

RKS Financial Group Inc. of Glendale said it has signed a letter of intent with GulfWest Energy Inc. to underwrite a $3-million public stock offering that will enable the Texas company to buy oil and natural gas reserves and develop its business. William Stratton, chairman of RKS, said the plan to underwrite the offering was part of RKS's strategy to diversify. RKS, formerly known as Otra Securities Group Inc., is a clearing service for brokerage houses.

Otra Securities Group Inc., a financial services concern based in Glendale, has changed its name to RKS Financial Group Inc. The change was made after the company's stockholders approved the new name at a special meeting May 22. RKS Financial Chairman William Stratton said the change reflects the company's expansion from being largely a securities trading clearinghouse to also providing securities brokerage, business evaluation and other financial services.