On behalf of Daniel Watkins of Watkins Firm, A Professional Corporation posted on Tuesday, March 15, 2011. The Carlyle Group, the private equity giant, has just announced a five billion dollar joint venture that will buy shipping vessels and related assets in China. The other parties to the deal are Tiger Group Investments, Washington Family, the Seaspan Corporation and Seaspan executives Gerry Wang...
Merger Lawsuit Defendant Wants to Move Trial From California
On behalf of Daniel Watkins of Watkins Firm, A Professional Corporation posted on Saturday, March 5, 2011. In 2009, Ideation Acquisition entered into a merger agreement with SearchMedia Holdings Ltd. The agreement was worth more than $175 million. After the merger went through, SearchMedia reported that it would need to restate its 2007 and 2008 financial statements:...
Merger Talks Off Between Salon.com and Newser.com
On behalf of Daniel Watkins of Watkins Firm, A Professional Corporation posted on Thursday, March 3, 2011. Talks over a potential merger of online news and opinion pioneer Salon.com with a news aggregation site called Newser.com have foundered. Salon had let it be known in recent months that it was willing to become a target...
State-of-Incorporation Shopping Unpopular With Shareholders
On behalf of Daniel Watkins of Watkins Firm, A Professional Corporation posted on Tuesday, March 1, 2011. A key issue in business formation and planning that goes beyond what form a business should take, is where a business will choose to incorporate. Delaware is a popular choice of state for incorporation. Delaware has a reputation for having favorable corporate...
Real Estate Company St. Joe Makes New Shareholders’ Rts Plan
On behalf of Daniel Watkins of Watkins Firm, A Professional Corporation posted on Wednesday, February 16, 2011. The publicly-traded real estate company St. Joe said earlier this week that it is going to enact a new shareholders’ rights plan to put off potential takeover plots by Fairholme Capital Management. Fairholme currently owns thirty percent of St. Joe....
California Based KB Home May Have to Pay $180 Million in Joint Venture Case
On behalf of Daniel Watkins of Watkins Firm, A Professional Corporation posted on Sunday, February 6, 2011. Last week KB Home, based in Los Angeles, said the company could potentially be forced to pay $180 million plus attorney fees in a bankruptcy case involving a joint venture project. The joint venture, South Edge LLC, was behind...
SEC Passes “Say on Pay” Regulations
On behalf of Daniel Watkins of Watkins Firm, A Professional Corporation posted on Wednesday, January 26, 2011. New regulations adopted by the Securities and Exchange Commission will require companies to hold nonbinding shareholder votes on executive pay packages. Shareholders will thus have readier access to a method of getting the full attention of a company’s board...
Fewer New Businesses Forming, Dimming Recovery Prospects
On behalf of Daniel Watkins of Watkins Firm, A Professional Corporation posted on Friday, November 19, 2010. According to a new Labor Department report, fewer entrepreneurs are starting new businesses, dimming prospects for growth in employment. The Wall Street Journal reports that in the early stages of the national economic recovery, more businesses are closing...
Class Action Suit Status Approved in Conseco Case
On behalf of Daniel Watkins of Watkins Firm, A Professional Corporation posted on Friday, November 12, 2010. Seven Conseco Life Insurance policyholders prevailed against the odds and were granted national class action status for their lawsuit against the Indiana company. Law.com reports that at an October hearing in San Francisco, the U.S. District Court...