Indiana’s director protections complicate ITT lawsuit
A lawsuit filed by ITT Educational Services’ bankruptcy trustee seeks $250 million from the firm’s former CEO and board members, whom she alleges were disengaged as the business melted down.
Greg Andrews
Articles
Allos Ventures plans $50M-plus VC fund, adds director
The 8-year-old firm, which focuses on investing in early-stage Midwestern tech companies, this week filed plans with the Securities and Exchange Commission to raise $50 million to $100 million for the new fund.
Path to $1.6 billion acquisition by Lilly full of twists and turns
At one point this spring, Lilly and three other companies were simultaneously angling to buy AMRO BioSciences.
With Kite shares stuck in discount bin, dividend investors can hit jackpot
Kite Realty Group Trust now sports a whopping 8.5 percent annual dividend yield—by far the highest of any publicly traded firm in Indiana—a reflection of the cold shoulder investors are giving retail real estate companies as internet sales soar higher.
Wind-down of Marsh Supermarkets paints ugly financial picture
Tens of millions of unsecured claims will go unpaid when the Indianapolis-based grocery chain completes its liquidation in bankruptcy court.
Biglari Holdings shares tumble after restructuring boosts CEO’s grip on company
The parent of Steak n Shake will create two classes of stock, allowing Sardar Biglari to make acquisitions without diluting his voting control.
Hard-fought civil fraud case against ITT brass nears trial
Former CEO Kevin Modany and former Chief Financial Officer Daniel Fitzpatrick tried to settle the case last year, but SEC commissioners rejected the deal. Another settlement conference is scheduled for May.
Class-action lawyers rebuked over Anthem fee request
A federal judge has put off deciding whether to approve the $115 million data-breach settlement and has appointed a special master to closely scrutinize the request for $38 million in attorney's fees.
Businessman Alan Symons puts legal nightmare to bed
The executive has satisfied the terms of a settlement that extricates him from a $44 million court judgment stemming from a soured business relationship.
Anthem stays on sidelines amid blitz of megadeals
Business history is littered with colossally bad mergers that seemed brilliant at the time. So the insurer might benefit from avoiding the temptation to follow the current trend. Or it could get left in the dust.
Biglari says higher prices wouldn’t fix Steak n Shake, but not everyone agrees
A franchisee says Sardar Biglari's devotion to low prices is taking a toll on the customer experience at Steak n Shake.
United Kingdom retailer buying Finish Line for $558M
The purchaser is not Sports Direct International, a United Kingdom-based firm that began buying up Finish Line shares last year, but rather its top rival, JD Sports.
Lilly revives proposals that would lower takeover barriers
The company’s board is asking shareholders to support two corporate-governance proposals, including one that would eliminate a requirement that buyout bids garner at least 80 percent shareholder approval.
Adviser admits defrauding former Colt of $4.7M
Under the terms of the plea agreement, Kenneth Ray Cleveland of suburban Los Angeles is required to make restitution to former Colt Cory Redding.
Biglari works his critics into an uproar—again
Sardar Biglari might talk a good game about being a champion of shareholders, but his biggest critics view him as a hypocrite—thanks to a series of moves that furthered his control over the business, the latest of which has spurred one lawsuit and seems sure to spark others.
Veteran pain-management doc lines up tens of millions for Midwest expansion
American Pain Consortium Holdings LLC, led by Dr. Edward J. Kowlowitz, plans to operate 15 to 20 pain-management practices within three years.
Is fast-growing rival of Lids frontrunner to buy chain?
Some analysts say the logical buyer for Zionsville-based Lids Sports Group is Fanatics Inc., an online-only rival that has been on a tear while Lids has struggled.
Circle Centre not only option for downtown Target
If the Minneapolis-based retail giant finally takes the plunge downtown, it might be at another site that almost no one is talking about.
Hot off the presses: a freshened-up IBJ
You’re holding in your hands a redesigned IBJ with a cleaner, more modern style and a host of new features we hope will make the publication an even more indispensable part of your weekly routine.
Co-conspirator in bribery scheme aims to avoid slammer
With the help of friends and family who wrote letters in his support, the first defendant avoided prison time. The second, who's also casting himself as a model citizen who exercised bad judgment, is hoping for the same outcome.