June 13, 2013 |
Cosmetics giant Revlon Inc. is facing a $850,000 fine from the Securities and Exchange Commission, which alleges the company misled investors as it tried to tackle its debt. Without admitting or denying fault, the New York company agreed to settle federal government charges accusing it of withholding information during a going-private transaction with its controlling shareholder, MacAndrews & Forbes Holdings Inc. M&F, which owns more than three quarters of Revlon's shares and is led by billionaire Ronald Perelman, asked the company in 2009 to allow minority shareholders to swap their common shares for preferred stock.
May 22, 2001 |
Taking another step toward recovery from a counterfeit-stock debacle, online marketer MindArrow Systems Inc. said Monday it has agreed to acquire Control Commerce Inc., whose technology makes it easier to purchase goods over the Internet. MindArrow, which is based in Aliso Viejo, would issue stock to acquire privately held Control Commerce in New York. Financial details were not disclosed.
July 15, 2005 |
Billionaire financier Ronald Perelman lost an appeal of a lawsuit that accused him of diverting $553.5 million in notes issued by Marvel Entertainment Co. when he was its controlling shareholder. He now faces the prospect of a trial. Marvel, the world's largest comic book company before it filed for bankruptcy protection in 1996, publishes Spider-Man, X-Men and the Incredible Hulk comics.
March 20, 1998 |
Aames Financial Corp. said financier Ronald Perelman and thrift executive Gerald Ford will buy a 9.9% stake in the consumer finance company for about $38 million, possibly signaling an eventual move to buy the company. Perelman and Ford, his partner in California Federal Bank, have agreed to buy 2.78 million newly issued Aames shares for $13.76 a share, Aames said. Ford and Howard Gittis, Perelman's lieutenant at his holding company, MacAndrews & Forbes Holdings Inc.
March 22, 2007 |
Morgan Stanley won a major victory Wednesday when a divided Florida state appeals court threw out a $1.58-billion award to billionaire Ronald Perelman over his 1998 sale of camping equipment company Coleman Co. to Sunbeam Corp. Perelman had accused Morgan Stanley of fraud in helping Sunbeam, an appliance maker, hide its shaky finances while arranging the $1.5-billion Coleman purchase.
March 24, 2005 |
Morgan Stanley suffered a setback in a Florida court Wednesday when a judge ruled that the bank helped Sunbeam Corp. improperly inflate its financial condition as it pursued a takeover of Coleman Co. in 1998. In a related ruling, Florida Circuit Court Judge Elizabeth Maass also ruled that Morgan Stanley's outside counsel, Kirkland & Ellis, could withdraw and she postponed the start of trial until April 4.
June 20, 2009 |
Panavision Inc., the longtime supplier of motion picture camera equipment, has replaced Chief Executive William M. Campbell -- after just 10 weeks on the job. The Woodland Hills company, controlled by investor Ronald O. Perelman, said in a statement that William C. Bevins, a longtime associate of Perelman's, had replaced Campbell, the former president of Discovery Networks USA who also had been an executive at ABC, CBS and Warner Bros. Television.
August 8, 2008 |
Billionaire financier Ronald Perelman agreed to pay $80 million to settle a lawsuit in which he was accused of helping to divert $553.5 million in notes when he controlled comic book publisher Marvel Entertainment Group. Perelman, 65, and other Marvel directors were accused of moving proceeds to some of his other companies before Marvel's 1996 bankruptcy. Note holders, and eventually Marvel's litigation trustees, sued in 1997, seeking $470.8 million in damages.
October 3, 1985 |
Revlon Inc. said Wednesday that its directors are weighing a liquidation or leveraged buy-out of the company in addition to a sweetened $1.5-billion takeover offer from Pantry Pride Inc. Revlon said another U.S. company, which it did not identify, also is ready to discuss a takeover of the cosmetics and health-care concern.
August 11, 2004 |
Billionaire financier Ronald O. Perelman is adding the Hummer sport utility vehicle to his stable of holdings. Perelman's MacAndrews & Forbes Holdings Inc. is forming a joint venture with Renco Group Inc. to own AM General, which makes the Hummer for General Motors Corp., the companies said Tuesday. Terms weren't disclosed.