October 18, 2005 |
The divorce trial of an executive with Los Angeles-based investment giant Capital Group Cos. will be partly closed to the public to prevent disclosures about the firm's inner workings, a Superior Court judge decided Monday. The ruling was a victory for the privately held company, which manages more than $1 trillion for clients worldwide. The firm has long closely guarded details of its own finances, including its revenue and profit.
July 15, 1989 |
Paramount Communications' battle to take over Time Inc. suffered a devastating setback Friday as a Delaware judge refused to block Time's acquisition of Warner Communications Inc. Ruling on a case that has riveted Hollywood and Wall Street, Delaware Chancellor William T. Allen rejected Paramount's arguments that Time directors breached their duty to shareholders by seeking a $14-billion purchase of Warner that they hoped would enable them to evade Paramount's $12.2-billion offer to buy Time.
August 7, 2012 |
NEW YORK — Knight Capital Group's lifeline may have headed off the Wall Street brokerage's collapse, but it did not allay questions over the firm's future. The Jersey City, N.J., brokerage, whose business processes 10% of all U.S. stock transactions, received $400 million of new capital from a consortium of private equity funds and other major financial players. It will keep Knight in business after suffering massive losses last week when a software glitch sent out a stream of unintended trades.
July 17, 1986
The Federal Communications Commission rejected a trustee arrangement proposed by Reliance to facilitate its takeover of John Blair & Co., a New York-based broadcast company whose holdings include five television stations. Reliance already has received about 90% of Blair's common shares under a tender offer that closed July 3.
April 12, 2012 |
Wall Street investment firms have not had the most successful initial public offerings in recent years — and Oaktree Capital Group may be no exception. Despite being highly regarded, the Los Angeles distressed-debt manager raised less in its IPO on Wednesday than planned. The company announced that it raised $380 million by selling 8.8 million shares at $43 each. That's at the lower end of its proposed range of $43 to $46 a share, according to an earlier filing with the Securities and Exchange Commission.
July 28, 2010 |
A group of money managers within TCW Group Inc. said Tuesday that they reached a deal with the Los Angeles company to split off their $11.5-billion operation. The agreement, which had been expected, will reestablish Crescent Capital Group as a stand-alone investment firm that provides debt financing to public and private companies. Crescent was co-founded in 1991 by Mark Attanasio and two other former executives of junk bond giant Drexel Burnham Lambert, which filed for bankruptcy protection in 1990.
October 23, 2009 |
Boutique investment banking firm Imperial Capital Group Inc. has filed to go public, hoping to tap investors' improved appetite for new stock issues. In a preliminary prospectus, the Century City firm proposed to raise as much as $150 million in a deal that would allow management to cash out a portion of its ownership stake. But besides that, and paying off a $10-million credit line, Imperial said it hadn't decided what to do with the money it would raise, other than use it for general corporate purposes.
July 30, 2003 |
FrontPoint Partners, the Greenwich, Conn., investment firm founded by former executives of Tiger Management and Soros Fund Management, is acquiring money manager Ivory Capital Group of Santa Monica. Financial terms of the deal weren't disclosed, but FrontPoint plans to launch two hedge funds -- the firm's sixth and seventh funds -- that will be managed by Ivory Capital executives. Ivory Capital's existing clients are expected to move their money to the new funds.
January 27, 2007 |
State prosecutors got a green light Friday to continue their fraud case against the Los Angeles-based company that manages American Funds, the largest U.S. stock and bond mutual fund group. A California Court of Appeal panel in Los Angeles ruled that Atty. Gen. Jerry Brown had the right to pursue the state's 2-year-old suit alleging that the fund company failed to adequately explain to its shareholders how it compensated brokerages that pitched its products. Capital Group Cos.
January 12, 2000 |
The Orange County Zodiac A-League soccer team will be purchased today by Peacock Financial, a venture capital firm in Temecula, according to Rick Brown, who was team president when the Zodiac ceased operations on New Year's Eve. The A-League assumed control of the franchise last week when former owner John Frankhouse defaulted on a $50,000 letter of credit.