A group of Emmis Communications Corp. preferred shareholders, unhappy with a company proposal that would strip them of their right to collect millions of dollars in dividends, filed a lawsuit against the Indianapolis media firm Monday to try to prevent the move.
The proposal garnered support from the owners of 62 percent of Eli Lilly’s outstanding shares. To pass, the proposal needed approval from the owners of 80 percent of Lilly’s shares.
Attorney William Wendling will try to collect $1 million to $2 million from a handful of investors in Samex Capital Ponzi scheme.
Emmis Communications Corp.'s effort to strip its preferred shareholders of their rights and avoid forking over about $10 million in unpaid dividends is drawing sharp criticism from top market observers, including a columnist for The New York Times.
More than $3.6 trillion has been restored to U.S. equity values since October amid better-than-estimated earnings and economic data. Indianapolis-based WellPoint Inc. surged 11 percent this week, as the Supreme Court debated the health care law.
Attorneys assisting the Fair Finance Co. bankruptcy trustee have agreed to no longer be paid by the hour but instead on a contingency based on a percentage of funds recovered for shareholders of the company owned by indicted financier Tim Durham.
It is impossible to make an intelligent assessment of the investment merit of an asset without accounting for its price.
Keenan Hauke of Fishers, who pleaded guilty to securities fraud in December after costing hedge fund clients $7 million, received a 10-year federal prison sentence Friday morning.
Reid Hospital & Health Care Services in Richmond alleges the financial adviser’s delay in selling investments cost the hospital more than $2.5 million.
Indianapolis attorneys say numerous local private firms are on the IPO sidelines, mulling whether to try to capitalize on the strengthening economy and improving investor appetite for new issues.
Allison Transmission Holdings Inc. shares rose 1.7 percent in their trading debut Thursday after the Indianapolis-based manufacturer raised more than sought in its initial public offering.
Shares of Allison Transmission Holdings Inc. are expected to begin trading Thursday, but the early reaction to the IPO from analysts is lukewarm. The locally based company’s private-equity owners are offering 21.7 million shares for $22 to $24 apiece, which could raise as much as $522 million.
Emmis Communications is calling a special meeting where investors will be asked to eliminate the right of preferred stockholders to receive millions of dollars in dividends. The firm also seeks approval for a reverse stock split that would prevent a looming NASDAQ delisting.
David Karandos, a broker who advised the Indiana State Teachers Association Insurance Trust before it collapsed in 2009, has reached a settlement. Karandos agreed to a 75-day suspension from working in the securities industry and may pay up to $50,000 in restitution.
If the cost of aircraft fuel continues to approach $3.50 a gallon, 2012 fuel costs for the company's Frontier unit fuel will end up $40 million higher than the business plan.
Emmis Communications Corp. has failed to comply with requirements to remain on the NASDAQ exchange, but the Indianapolis-based media firm said it plans another attempt to avoid being delisted from the well-known stock index.
Lawyers overseeing Fair Finance's liquidation charge that, every step of the way, businesspeople who crossed Tim Durham’s path and witnessed questionable behavior looked the other way—because it was highly profitable for them to do so.
I eagerly await the pearls of investing wisdom in Warren Buffett's annual letter to Berkshire Hathaway Inc. shareholders. His 2011 missive did not disappoint.
State officials have filed civil suits against Plan America LLC in Indianapolis and Rykoworks Capital Group LLC in Brownsburg, accusing them of fraud and embezzlement.
The lawsuit charges Donald Fair knew Tim Durham was looting the business but kept quiet to collect millions of dollars in payments scheduled to be made from 2002 to 2007.
