Refac Optical Group, which manages more than 500 optical retail stores in the USA through the U.S. Vision chain and OptiCare Health Services, stopped trading on the American Stock Exchange on Apr. 26. The company was taken private after its major shareholder, Palisade Concentrated Equity Partnership, bought its remaining shares through ROG Acquisition, a company formed by Palisade. Palisade previously owned 91.4 percent of the company's shares, before buying the remaining 1.5 million shares for $6 each in a transaction worth about $9.2 million. While plans were being drawn up for the company's privatization, Raymond Cardonne, chief financial officer, announced his resignation. Cardonne resigned in light of the company's reduction in personnel and reorganization.