Berkshire’s Bid to Take Over Transatlantic is Below Book Value

August 8, 2011

Warren Buffett’s Berkshire Hathaway is bidding on Transatlantic Holdings (TRH)  in order to top bids by two insurance companies.  Buffett’s bid would still only represent a 15% premium to Transatlantic’s current price, and would still be below Transatlantic’s book value.  From the NY Times: Even at $3.2 billion, Berkshire’s offer is well below Transatlantic’s book […]

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Salas Wang Investigating Career Education Corporation for Possible Securities Law Violations

August 4, 2011

Salas Wang LLC is investigating possible shareholder claims against Career Education Corporation (CECO) for violations of securities laws.  Specifically, CECO’s shares dropped precipitously because it finally disclosed that: [CECO] it recently discovered improper practices at some of its health education segment campuses relating to the determination of reported placement rates. It made the discovery while […]

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Salas Wang Investigating Sales Practices for Reverse Merger Companies

August 3, 2011

Salas Wang LLC is investigating sales and trading practices of stockbrokers whose clients invested in companies that engaged in a “reverse merger.”  Specifically, the SEC has issued an alert as to companies that engaged in reversed mergers with foreign or domestic companies, including:  (1) Heli Electronics Corp. (HELI); (2) China Changjiang Mining & New Energy […]

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Big Law Firms Have to Compete? The Horror!

August 2, 2011

Large law firms bank on having clients that blindly pay them for legal work without looking for better alternatives.  The Wall Street Journal highlighted how big firms are now having to compete for legal work through “reverse auctions.”  Law firms hate this because it forces them to cut their rates to clients when they had been consistently […]

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Is the Paetec Merger Fair to Paetec’s Shareholders?

August 2, 2011

Salas Wang LLC is investigating Windstream’s buyout of Paetec (Paetec shareholders will get 0.460 of a share of Windstream for each Paetec share, or about $891 million in stock) for breaches of fiduciary duty.   The merger value represents only a 13% premium to Paetec shareholders. If you are Paetec shareholder, give us a call […]

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Employment Based Immigration

July 31, 2011

Labor Certification A foreign national and his or her immediate family may become Legal Permanent Residents of the United States if a U.S. Company petitions for a Labor Certification for the individual. Non-Immigrant Employment Visas H-1B Visa U.S. Based Companies who wish to hire Foreign National Individuals for specialty occupations (positions that require a minimum […]

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Family Based Immigration: Becoming a Legal Permanent Resident

July 31, 2011

A U.S. citizen can file a petition for the following relatives:  Husband or wife; Children, married or unmarried. A U.S. citizen who is at least 21 years or older may also petition for the following relatives: Parents; Brothers or sisters. A U. S. Citizen may also petition for their fiancé(e). A permanent resident of the […]

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SunTrust Fined for Auction Rate Securities Practices

July 31, 2011

According to the Securities Law Prof Blog, FINRA fined SunTrust in connection with its sales of auction rate securities.  The blog reports that: SunTrust RH and SunTrust IS used advertising and marketing materials that were not fair and balanced, and did not provide a sound basis for evaluating all the facts about purchasing ARS. Specifically, the […]

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Merrill Lynch Investigated for Custom Product

June 17, 2011

The SEC is investigating Merrill Lynch in connection with some custom CDO product. Often, investment banks will create custom products for hedge or pension funds. These products take some sophistication and are usually meant to hit or exceed certain benchmarks (like tracking the Dow Jones Index). The products are little like sausage, a bunch of […]

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Too Rich to Recover from Your Broker?

June 16, 2011

There is some sentiment that wealthy, sophisticated investors have a hard time recovering for suitability claims.  But the Philadelphia 76ers owner just settled a $2 million claim against Lehman Brothers.   This is a good win considering that the owner is wealthy enough to pay Jason Kapono $6 million to sit the bench.

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