Archive: May 24, 2009 - May 30, 2009

Cuisine Solutions to Halt Common Stock

Alexandria-based Cuisine Solutions said its board of directors has approved a plan to stop trading its common stock. The company said it's withdrawing its shares to avoid costs related to compliance under the Sarbanes-Oxley Act and to focus on long-term value. Cuisine Solutions expects to save more than $800,000 a...

By Terri Rupar | May 28, 2009; 1:24 PM ET | Comments (0)

AOL to Be Spun Off

It's (almost) really over: Time Warner said this morning that it will buy up the 5 percent of AOL that's owned by Google and then spin off the company. The independent AOL will be led by CEO Tim Armstrong, who came from Google in March. The struggling AOL advertising and...

By Terri Rupar | May 28, 2009; 11:05 AM ET | Comments (0)

Comstock CFO Leaves

Reston-based Comstock Homebuilding said that former finance chief Bruce Labovitz is no longer with the company. He's being replaced by chief accounting officer Jeff Dauer on an interim basis. Here's the statement from CEO Christopher Clemente: "I believe Jeff's considerable accounting and finance background, his track record of generating accurate...

By Terri Rupar | May 27, 2009; 5:54 PM ET | Comments (0)

Greater Atlantic Financial in Talks With Potential Buyer

Greater Atlantic Financial of Reston said in a regulatory filing that it received a notice from its regulator directing it to find new capital or sell its assets and liabilities by July 31. The bank said that as of March 31 it was "significantly undercapitalized." It has been operating...

By Terri Rupar | May 27, 2009; 4:22 PM ET | Comments (0)

Justice Asks for Info from Blackboard

E-learning company Blackboard said in a regulatory filing today that the Justice Department has requested information related to its recent acquisition of Angel Learning and its effect on competition. The District-based firm announced the $95 million purchase of Indianapolis rival Angel on May 6, and the deal closed May 11....

By Terri Rupar | May 27, 2009; 4:04 PM ET | Comments (0)

 
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