Restraining Order Closes Wilmington Medical Marijuana Business

The Wilmington medical marijuana business 420 Collective has closed, thanks to a temporary restraining order filed by Los Angeles City Attorney Mike Feuer who cited the enforcement of Proposition D, Feuer’s office announced today. Feuer is also seeking injunctions against six similar businesses in Wilmington that are within a six-block radius of each other on Avalon Boulevard. Eighteen dispensaries in the Harbor area have already been closed.

Pacific Commerce Bank Announces Shareholder Approval of Vibra Bank Purchase

Little Tokyo lender Pacific Commerce Bank’s planned purchase of Chula Vista’s Vibra Bank is moving forward, with Pacific Commerce announcing Tuesday that shareholders of both banks have approved the deal.

The acquisition is expected to close early in the second quarter. The combined institution would have assets of about $358 million, making it Los Angeles County’s 34th largest bank, and four branches in Los Angeles and San Diego counties.

Blackline Hires CFO

Blackline has hired Mark Partin as its new chief financial officer. Partin was most recently the chief financial officer of Fiberlink Communications, which was later sold to IBM. Blackline, headquartered in Woodland Hills, develops financial software.

Lion Hits the Nasdaq

Lion Biotechnologies Inc., a Woodland Hills biotechnology company that is developing cancer immunotherapies, today announced that it has received approval to list its common stock on the Nasdaq Global Market. Lion expects its shares to begin trading on Nasdaq on Thursday under the company's current stock symbol LBIO. Lion’s stock now trades over the counter.

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