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BUSINESS
April 4, 1991 | MICHAEL FLAGG
The Ultrasystems lease deal with Koll was complicated, according to real estate brokers familiar with the deal, because Hadson Corp. is suffering from a 1988 buying spree. That year it bought Ultrasystems, which stock analysts thought was a good deal, and a defense contractor subsidiary of Singer Co., which turned out to be a dog. Loaded with debt and losing money, Hadson appointed some new top executives last year and began considering which parts of itself to sell.
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BUSINESS
October 16, 1990 | GREGORY CROUCH
A federal jury cleared a Mission Viejo executive of insider trading charges brought by the Securities and Exchange Commission, evidently believing defense arguments that the accusations were trumped up by an ex-wife. Dennis W. Evans, 38, was exonerated Friday in U.S. District Court in Los Angeles when the jury rejected claims that he had profited from confidential information about a merger between Ultrasystems Inc.--an Irvine firm where Evans was employed as a controller--and Hadson Corp.
BUSINESS
April 4, 1991 | MICHAEL FLAGG, TIMES STAFF WRITER
The office market around John Wayne Airport is showing signs of life as a major tenant says it has leased space in an office tower there and an even bigger tenant is also shopping the neighborhood. Ultrasystems Inc., an Irvine energy company, has signed a lease for 87,000 square feet--about four floors--at a Koll Co. high-rise at 2020 Main St. in Irvine. Ultrasystems isn't expected to move in before July because the company has been put on the block by its parent, Oklahoma's Hadson Corp.
BUSINESS
August 16, 1990 | DEAN TAKAHASHI, TIMES STAFF WRITER
Hadson Corp., an Oklahoma City-based energy firm, said Wednesday it has agreed to sell its money-losing Ultrasystems Defense Inc. subsidiary here to Logicon Inc. in Los Angeles for an undisclosed price. J. Michael Adcock, president of Hadson, said the company is selling the unit to get out of the defense business, reduce its debt and focus on its core energy businesses. Ultrasystems Defense employs 280 people at locations in Irvine, El Segundo, Sunnyvale, Sierra Vista, Ariz.
BUSINESS
October 16, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
A federal jury has cleared a Mission Viejo executive of insider-trading charges brought by the Securities and Exchange Commission, evidently believing defense arguments that the accusations were trumped up by an ex-wife. Dennis W. Evans, 38, was exonerated Friday in U.S. District Court in Los Angeles when the jury rejected claims that he had profited from confidential information about a merger between Ultrasystems Inc.--an Irvine firm where Evans was employed as a controller--and Hadson Corp.
BUSINESS
August 10, 1989 | GREGORY CROUCH, Times Staff Writer
The U.S. Securities and Exchange Commission on Wednesday accused an Orange County executive of insider trading, alleging that he used confidential information about a pending merger to make an overnight profit of $11,000 in the stock market for himself, his mother-in-law and a friend. Dennis W. Evans of Mission Viejo allegedly carried out a scheme to profit from inside information about a merger between Ultrasystems Inc. in Irvine and Hadson Corp. of Oklahoma City, Okla.
BUSINESS
March 20, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
In an unusual use of insider trading laws, the Securities and Exchange Commission filed charges Tuesday against the founder and former chairman of Irvine-based Ultrasystems Inc., accusing him of illegally leaking bad news about the company's earnings to a select group of stock analysts in 1987. The retired executive, Phillip J. Stevens, 62, of Newport Beach, simultaneously agreed to settle the civil charges and pay $126,455 in penalties, without admitting or denying the allegations.
BUSINESS
April 4, 1991 | MICHAEL FLAGG, TIMES STAFF WRITER
The office market around John Wayne Airport is showing signs of life as a major tenant says it has leased space in an office tower there and an even bigger tenant is also shopping the neighborhood. Ultrasystems Inc., an Irvine energy company, has signed a lease for 87,000 square feet--about four floors--at a Koll Co. high-rise at 2020 Main St. in Irvine. Ultrasystems isn't expected to move in before July because the company has been put on the block by its parent, Oklahoma's Hadson Corp.
BUSINESS
April 4, 1991 | MICHAEL FLAGG
The Ultrasystems lease deal with Koll was complicated, according to real estate brokers familiar with the deal, because Hadson Corp. is suffering from a 1988 buying spree. That year it bought Ultrasystems, which stock analysts thought was a good deal, and a defense contractor subsidiary of Singer Co., which turned out to be a dog. Loaded with debt and losing money, Hadson appointed some new top executives last year and began considering which parts of itself to sell.
BUSINESS
March 20, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
In an unusual use of insider trading laws, the Securities and Exchange Commission filed charges Tuesday against the founder and former chairman of Irvine-based Ultrasystems Inc., accusing him of illegally leaking bad news about the company's earnings to a select group of stock analysts in 1987. The retired executive, Phillip J. Stevens, 62, of Newport Beach, simultaneously agreed to settle the civil charges and pay $126,455 in penalties, without admitting or denying the allegations.
BUSINESS
October 16, 1990 | GREGORY CROUCH
A federal jury cleared a Mission Viejo executive of insider trading charges brought by the Securities and Exchange Commission, evidently believing defense arguments that the accusations were trumped up by an ex-wife. Dennis W. Evans, 38, was exonerated Friday in U.S. District Court in Los Angeles when the jury rejected claims that he had profited from confidential information about a merger between Ultrasystems Inc.--an Irvine firm where Evans was employed as a controller--and Hadson Corp.
BUSINESS
October 16, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
A federal jury has cleared a Mission Viejo executive of insider-trading charges brought by the Securities and Exchange Commission, evidently believing defense arguments that the accusations were trumped up by an ex-wife. Dennis W. Evans, 38, was exonerated Friday in U.S. District Court in Los Angeles when the jury rejected claims that he had profited from confidential information about a merger between Ultrasystems Inc.--an Irvine firm where Evans was employed as a controller--and Hadson Corp.
BUSINESS
August 16, 1990 | DEAN TAKAHASHI, TIMES STAFF WRITER
Hadson Corp., an Oklahoma City-based energy firm, said Wednesday it has agreed to sell its money-losing Ultrasystems Defense Inc. subsidiary here to Logicon Inc. in Los Angeles for an undisclosed price. J. Michael Adcock, president of Hadson, said the company is selling the unit to get out of the defense business, reduce its debt and focus on its core energy businesses. Ultrasystems Defense employs 280 people at locations in Irvine, El Segundo, Sunnyvale, Sierra Vista, Ariz.
BUSINESS
June 5, 1990 | JONATHAN WEBER, TIMES STAFF WRITER
Ultrasystems Engineers and Constructors said Monday that it had won a $14-million contract to build a unique facility that will convert methane gas from landfills into diesel fuel and other useful materials. If the experimental project in Pueblo, Colo., is successful, it could open the way for dozens of similar facilities at landfills in Southern California and elsewhere, said Ultrasystems Vice President Jackson Yu.
BUSINESS
September 1, 1989 | MICHAEL FLAGG, Times Staff Writer
The Securities and Exchange Commission Thursday accused a former Ultrasystems executive of insider trading shortly before Hadson Corp. announced that it was buying the Irvine engineering concern in 1987. The executive, Gerald A. Horwitz, consented to give up $1,700 in profits and pay a fine of $1,400, the commission said. Without admitting guilt, Horwitz also agreed not to violate insider trading laws.
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