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California Department Of Corporations

CALIFORNIA | LOCAL
January 26, 1996 | DAVID R. OLMOS and JEAN MERL, TIMES STAFF WRITERS
After a turbulent 2 1/2 years as the chief regulator of California's powerful managed health care industry, Gary S. Mendoza will join Mayor Richard Riordan's administration, sources said Thursday. Mendoza is to become deputy mayor in charge of economic development for Riordan. The economic development post is a highly important one in the Riordan administration, which has made improving Los Angeles' sagging business climate a top priority.
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BUSINESS
December 1, 1995 | BARBARA MARSH, TIMES STAFF WRITER
A Superior Court judge, confirming that the state has broad powers to regulate health care plans, ordered a Cypress-based company to hand over records involving people who have complained about the company's health care. Judge John M. Watson issued the order Thursday against PacifiCare of California, which had resisted efforts last summer by the state Department of Corporations to gain access to files of health plan members. The company, a unit of PacifiCare Health Systems Inc.
BUSINESS
November 30, 1995 | BARBARA MARSH, TIMES STAFF WRITER
An Orange County Superior Court judge indicated Wednesday that he is inclined to grant the state partial access to internal records of a Cypress health-care company to determine whether the company needs more supervision. The Department of Corporations, which regulates health-maintenance organizations, demanded access to records of PacifiCare Health Systems Inc., saying the state had received numerous complaints from enrollees about the health care they were receiving through the company.
BUSINESS
November 29, 1995 | BARBARA MARSH, TIMES STAFF WRITER
A legal showdown between PacifiCare Health Systems Inc. and the state of California over the state's power to regulate health plans is expected today in Orange County Superior Court. PacifiCare is resisting a demand by the state Department of Corporations for access to internal records of the Cypress-based company's California health plan.
BUSINESS
November 9, 1995 | DAVID R. OLMOS, TIMES STAFF WRITER
As WellPoint Health Networks and Health Systems International officials met Wednesday to resolve disputes in their proposed merger, a state regulator sent a scolding letter to the firms saying there is "no legitimate reason" for delaying the $1.6-billion deal. The letter, sent Tuesday by California Department of Corporations Commissioner Gary Mendoza, indicates what problems have arisen in the deal: a dispute between the chief executives of the firms over management roles and compensation.
BUSINESS
October 27, 1995 | JAMES S. GRANELLI, TIMES STAFF WRITER
Investors in the First Pension Corp. scandal filed a $17-million lawsuit Thursday accusing the state Department of Corporations of failing to investigate the company's wrongdoing and failing to warn investors. The lawsuit, which alleges newly found instances of negligence, follows the state's recent rejection of a similar claim that the investors filed in June with the state as a prerequisite to filing a lawsuit.
BUSINESS
July 25, 1995 | DAVID R. OLMOS, TIMES STAFF WRITER
State regulators have questioned the fairness of a proposed merger between two health care giants, WellPoint Health Networks and Health Systems, but company officials said the issues raised do not put the $1.9-billion deal in jeopardy. Regulators said they are not seeking to delay the merger, but made it clear that they would expect some changes in the structure of the deal before they would approve it.
BUSINESS
June 21, 1995 | SCOT J. PALTROW, TIMES STAFF WRITER
The California Department of Corporations said Tuesday that it plans to resume screening stockbrokers who do business in the state, a practice it abandoned to save money shortly after Proposition 13 passed. Maurice Cox, supervising examiner of the department's broker-dealer and investment adviser section, said screening is necessary because the securities industry has not been tough enough in cracking down on "rogue brokers" who cheat investors.
BUSINESS
June 9, 1995 | JAMES S. GRANELLI, TIMES STAFF WRITER
Investors in scandal-scarred First Pension Corp. have filed a $15-million claim against the state--a prelude to a lawsuit--accusing the Department of Corporations of failing to investigate the company's wrongdoing in 1992 and failing to warn investors.
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