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CALIFORNIA | LOCAL
November 23, 1991 | LESLIE BERKMAN, TIMES STAFF WRITER
The state announced a $1.3-million settlement of a lawsuit Friday against the world's largest recycler of degreasing solvents, alleging repeated violations of the state's hazardous-waste control law at Los Alamitos and nine other facilities statewide. State officials said the size of the settlement--the fourth largest in the 10-year history of the state law--was justified by the sheer number of alleged violations by the Safety-Kleen Corp.
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BUSINESS
December 13, 2002 | From Reuters
The Securities and Exchange Commission said it settled charges of accounting fraud against hazardous waste collector Safety-Kleen Corp. The SEC said it filed a civil complaint against the Columbia, S.C.-based company alleging that four former officers overstated revenue and earnings in financial reports and press releases from November 1998 through March 2000. The company and two former officers settled the charges without admitting wrongdoing.
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BUSINESS
March 7, 2000 | Bloomberg News
Safety-Kleen Corp. placed on administrative leave its chief executive, Kenneth Winger, as well as its chief financial officer and chief operating officer, while a board-appointed committee investigates its accounting practices. The company said it started the investigation after the board "received information alleging possible accounting irregularities" that may have affected financial results since fiscal 1998. Columbia, S.C.
BUSINESS
December 11, 2002 | From Bloomberg News
Former Safety-Kleen Corp. Controller William Ridings pleaded guilty to taking part in a scheme with other executives to overstate earnings by $267 million, driving the firm to file for bankruptcy protection in 2000. Ridings admitted to conspiracy, securities fraud and falsifying records, court papers say. At his plea hearing in Manhattan federal court, he named former Chief Financial Officer Paul Humphreys and former Vice President Thomas Ritter as co-conspirators, his lawyer said.
BUSINESS
November 21, 1997 | Times Wires Services
Laidlaw Environmental Services Inc. sweetened its hostile bid for Safety-Kleen Corp. to $2.14 billion, or $30 a share, in cash, stock and assumed debt. The offer came just hours after Safety-Kleen, based in Elgin, Ill., agreed to be bought by Canada's Philip Services Corp., New York investment fund Apollo Associates Inc. and Blackstone Management Associates for $1.9 billion in cash and assumed debt.
BUSINESS
November 21, 1997 | From Times Wire Services
Laidlaw Environmental Services Inc. sweetened its hostile bid for Safety-Kleen Corp. to $2.14 billion, or $30 a share, in cash, stock and assumed debt. The offer came just hours after Safety-Kleen agreed to be bought by Canada's Philip Services Corp., New York investment fund Apollo Associates Inc. and Blackstone Management Associates for $1.9 billion in cash and assumed debt. Investors had expected South Carolina-based Laidlaw to come back with a better offer after its $25.
BUSINESS
April 15, 2000
* Safety-Kleen Corp., an industrial-waste recycler that suspended its chief executive last month after allegations of accounting irregularities, said it has received a subpoena from a federal grand jury in New York asking for documents related to its financial statements. Columbia, S.C.-based Safety-Kleen, which is 44%-owned by Canadian bus company Laidlaw Inc., didn't return calls seeking comment. * Guide to Our Staff: Need to reach Business section reporters or editors?
BUSINESS
December 13, 2002 | From Reuters
The Securities and Exchange Commission said it settled charges of accounting fraud against hazardous waste collector Safety-Kleen Corp. The SEC said it filed a civil complaint against the Columbia, S.C.-based company alleging that four former officers overstated revenue and earnings in financial reports and press releases from November 1998 through March 2000. The company and two former officers settled the charges without admitting wrongdoing.
BUSINESS
March 17, 1998
* Microsoft Corp. said its Windows 98 operating system will be available in stores June 25 amid the company's biggest marketing blitz since it released Windows 95. * Waste recycler Safety-Kleen Corp. accepted a sweetened $1.8-billion takeover offer from Laidlaw Environmental Services Inc., removing the last obstacle to what had been a long, hostile takeover battle for the company. * Abbott Laboratories Inc. said it will buy Toronto-based International Murex Technologies Corp.
BUSINESS
August 13, 1992 | From Times Staff and Wire Reports
EPA Refuses to List Used Oil as Hazardous Waste: Despite lobbying by environmentalists and a lawsuit from two high-tech recyclers of used motor oil, the U.S. Environmental Protection Agency declined to label old oil as a hazardous waste. Evergreen Oil Co. of Newark, Calif., and Safety-Kleen Corp. of Elgin, Ill., had sued the EPA to force a ruling on the issue. Both companies stood to gain if disposal of used oil came under tighter restrictions.
BUSINESS
July 20, 2002 | Reuters
Laidlaw Inc., the owner of Greyhound bus lines, and Safety-Kleen Corp., a handler of hazardous waste, said they reached "an amicable resolution" of claims through a court-approved mediation process. These included Laidlaw's $6.5-billion claim against Safety-Kleen, Safety-Kleen's $13.8-billion claim against Laidlaw, claims by Safety-Kleen's secured lenders of $6.3 billion against Laidlaw and claims by officers and directors of each company against the other.
BUSINESS
April 15, 2000
* Safety-Kleen Corp., an industrial-waste recycler that suspended its chief executive last month after allegations of accounting irregularities, said it has received a subpoena from a federal grand jury in New York asking for documents related to its financial statements. Columbia, S.C.-based Safety-Kleen, which is 44%-owned by Canadian bus company Laidlaw Inc., didn't return calls seeking comment. * Guide to Our Staff: Need to reach Business section reporters or editors?
BUSINESS
March 7, 2000 | Bloomberg News
Safety-Kleen Corp. placed on administrative leave its chief executive, Kenneth Winger, as well as its chief financial officer and chief operating officer, while a board-appointed committee investigates its accounting practices. The company said it started the investigation after the board "received information alleging possible accounting irregularities" that may have affected financial results since fiscal 1998. Columbia, S.C.
BUSINESS
March 17, 1998
* Microsoft Corp. said its Windows 98 operating system will be available in stores June 25 amid the company's biggest marketing blitz since it released Windows 95. * Waste recycler Safety-Kleen Corp. accepted a sweetened $1.8-billion takeover offer from Laidlaw Environmental Services Inc., removing the last obstacle to what had been a long, hostile takeover battle for the company. * Abbott Laboratories Inc. said it will buy Toronto-based International Murex Technologies Corp.
BUSINESS
November 21, 1997 | From Times Wire Services
Laidlaw Environmental Services Inc. sweetened its hostile bid for Safety-Kleen Corp. to $2.14 billion, or $30 a share, in cash, stock and assumed debt. The offer came just hours after Safety-Kleen agreed to be bought by Canada's Philip Services Corp., New York investment fund Apollo Associates Inc. and Blackstone Management Associates for $1.9 billion in cash and assumed debt. Investors had expected South Carolina-based Laidlaw to come back with a better offer after its $25.
BUSINESS
November 21, 1997 | Times Wires Services
Laidlaw Environmental Services Inc. sweetened its hostile bid for Safety-Kleen Corp. to $2.14 billion, or $30 a share, in cash, stock and assumed debt. The offer came just hours after Safety-Kleen, based in Elgin, Ill., agreed to be bought by Canada's Philip Services Corp., New York investment fund Apollo Associates Inc. and Blackstone Management Associates for $1.9 billion in cash and assumed debt.
BUSINESS
July 20, 2002 | Reuters
Laidlaw Inc., the owner of Greyhound bus lines, and Safety-Kleen Corp., a handler of hazardous waste, said they reached "an amicable resolution" of claims through a court-approved mediation process. These included Laidlaw's $6.5-billion claim against Safety-Kleen, Safety-Kleen's $13.8-billion claim against Laidlaw, claims by Safety-Kleen's secured lenders of $6.3 billion against Laidlaw and claims by officers and directors of each company against the other.
NEWS
November 23, 1991 | From Times Staff and Wire Reports
The state announced a $1.3-million settlement of a lawsuit Friday against Safety-Kleen Corp., the world's largest recycler of degreasing solvents, for repeated violations of the state's hazardous waste control law at 10 California facilities. State officials said the size of the settlement, the fourth largest, was justified by the number of alleged violations and the fact that it was the second enforcement action taken against the Illinois-based company in two years.
BUSINESS
August 13, 1992 | From Times Staff and Wire Reports
EPA Refuses to List Used Oil as Hazardous Waste: Despite lobbying by environmentalists and a lawsuit from two high-tech recyclers of used motor oil, the U.S. Environmental Protection Agency declined to label old oil as a hazardous waste. Evergreen Oil Co. of Newark, Calif., and Safety-Kleen Corp. of Elgin, Ill., had sued the EPA to force a ruling on the issue. Both companies stood to gain if disposal of used oil came under tighter restrictions.
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