January 9, 1994 |
Two Irvine investment banks are joining forces to participate in larger financings, but both say they will continue raising capital for biomedical and other small technology companies. Michael Danzi, president of Danzi Capital Group, an investment bank formed a year ago, is joining L.H. Friend, Weinress & Frankson Inc. and taking his five-person staff with him. Danzi will be managing director of a new wholly owned division called L.H. Friend-Danzi Capital Partners, company officials said.
April 14, 1994 |
Stephen Weinress, an analyst for L.H. Friend, Weinress & Frankson Inc. of Irvine, has withdrawn his "buy" recommendation on Mercer International after questioning the company's accounting and disclosure practices. Weinress said in a report to investors this week that Mercer owes them an explanation of a $14-million trading loss and its method for calculating operating earnings from its paper mills. He is the only analyst who has followed the company closely in recent months.
December 21, 1997 |
Two broker-dealers and their Irvine brokerage were fined $30,000 for allegedly violating trading rules in selling a company's initial public offering four years ago. Larry H. Friend, Stephen D. Weinress and their company, L.H. Friend, Weinress, Frankson & Presson Inc., did not admit the allegations against them in agreeing to the sanctions imposed by NASD Regulation Inc., the enforcement arm of the National Assn. of Securities Dealers.
December 28, 1993 |
Golden Systems Inc., a Simi Valley producer of power supplies for personal computers that recently completed its initial public stock offering, has sold an additional 250,000 common shares as part of an underwriter's over-allotment option. The proceeds totaled $1.7 million. Golden Systems issued 2.5 million shares last month at $7 per share. The additional shares have been sold at the same price to the firm's managing underwriters, Wedbush Morgan Securities and L. H.
July 20, 1994 |
Two Orange County investment banking companies that acted for awhile as if they wanted to merge now say they will continue to work together through a joint venture but have no intention of becoming one company. Larry Friend and Michael Danzi said their companies will work on major deals, like the effort to sell a minority shareholder's stock in the Irvine Co., through a division of L.H. Friend, Weinress & Frankson Inc. But Friend and Danzi said each company will continue to operate separately.