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A key figure in the investigation of
Milberg Weiss Bershad Hynes & Lerach
has been granted immunity as part of the prosecution’s attempt to show the firm made illegal payments to clients, Bloomberg News reported on Friday.
Melvyn Kinder, a Beverly Hills psychologist who served as lead plaintiff in a class-action case, has testified before a federal grand jury and is cooperating with the investigation, according to Pete Morris, Kinder’s attorney. Kinder is the author of “Smart Women/Foolish Choices.”
– ValueClick Inc.
announced that it has completed its acquisition of online advertising services company Fastclick Inc. In August, ValueClick, a Westlake Village-based online marketing company, said it would offer 0.7928 of its shares for each FastClick share, valuing the deal at about $214 million. ValueClick will integrate Fastclick into its existing display ad network business. Fastclick’s cash, cash equivalents and marketable securities are expected to be approximately $80 million at the completion of the transaction, ValueClick said in a statement Friday.
ValueClick also raised its full-year revenue estimate to reflect the closing of its acquisition of Fastclick. ValueClick now anticipates revenue of $291 million to $301 million, up from previous guidance of between $269 million and $279 million. Its new estimate for earnings before interest, taxes, depreciation, amortization and stock-based compensation is $72.4 million to $76.4 million, up from an earlier estimate of $70 million to $74 million. The company expects that Fastclick will contribute approximately $22 million in revenue to its fourth-quarter financial results.
– Kilroy Realty Corp.
purchased a 20-acre site, which includes a 303,000- square-foot office, engineering and manufacturing building, in the Rancho Bernardo submarket of San Diego for $24 million. The L.A.-based real estate investment trust said the property was purchased from a worldwide IT company that currently occupies the existing 303,000-square-foot building and has entered into a one-year lease with Kilroy to occupy the property through September 2006.
When the lease ends, Kilroy said it will redevelop the site for approximately 600,000 to 1 million square feet of office space in phases.
–
CompuCom Systems Inc.’s $254 million sale to
Platinum Equity LLC
was fair to shareholders, a Delaware judge ruled, dismissing a lawsuit filed by CompuCom shareholders, Bloomberg News reported. “Plaintiff’s claim that the CompuCom board orchestrated a ‘fire sale’ and rashly sold CompuCom for a discounted price rings particularly hollow,” Judge Stephen Lamb wrote in his opinion.
Platinum, a Beverly Hills-based acquisition firm owned by billionaire Tom Gores, said in May 2004 it would pay $4.60 a share for CompuCom, a Dallas-based computer-networking products distributor. A number of stockholders, including the Central Laborer’s Pension Fund, claimed the offer was inadequate.
