The Empire State Building’s managers were sued over claims they deprived thousands of early investors of as much as $410 million in profit when they took the New York skyscraper public as part of a group of properties.
A plan to put the Empire State Building into a real estate investment trust will provide simpler management and better access to capital, said Anthony Malkin, president of the company that controls the tower.
Whitman Capital LLC’s president was charged with taking part in two separate insider-trading conspiracies, using illegal tips on Google Inc., Polycom Inc. and Marvell Technology Group Ltd. to make more than $900,000 for the hedge fund.
Bank of New York Mellon Corp., the world’s largest custody bank, failed a second time to win dismissal of the state of Virginia’s lawsuit accusing it of defrauding pension funds in foreign-currency trades.
Del Monte Foods Co. , the maker of pet foods Meow Mix and Milk Bone, will solicit takeover offers after a judge postponed a $5.3 billion deal with KKR & Co. and suggested adviser Barclays Plc engaged in misconduct.
A group of investors in the company that controls the Empire State Building sought to block a settlement which would allow the iconic New York skyscraper to be included in a real estate investment trust.
Lincoln Electric Holdings Inc. and other makers of welding rods won a reversal of a $20.5 million jury verdict awarded in 2007 to a welder who claimed their products caused an illness resembling Parkinson’s disease.