Three former directors of DHB Industries Inc. will pay more than $1.6 million to resolve U.S. Securities and Exchange Commission claims over their roles in an accounting fraud at the military body-armor supplier.
Point Blank Solutions Inc., a maker of body armor for the U.S. military and law enforcement, won court approval to sell almost all its assets to an affiliate of Sun Capital Partners Inc. for about $36.6 million.
David Brooks , a founder and former chief executive officer of military contractor DHB Industries Inc. , was found guilty of committing a $185 million fraud and looting the company to pay for personal expenses.
The National Credit Union Administration has sued Goldman Sachs Group Inc., accusing the Wall Street firm of violating federal and state laws in the sale of securities to now-failed corporate credit unions.
Philadelphia Newspapers LLC is aiming to put the company up for auction again next week after the Teamsters union blocked a court-approved sale of the publisher of the Philadelphia Inquirer and Philadelphia Daily News to secured lenders.
Point Blank Solutions Inc. ’s acting chief executive officer, James Henderson , was sued by the former CEO’s brother, an investor in the bankrupt military contractor who claims Henderson failed to conduct proper audits.