SAN FRANCISCO (Reuters) – The auction for bankrupt
electronic retailer RadioShack’s brand and customer data has
closed with the Standard General hedge fund posting a winning
bid of $26.2 million after objections piled up to their sale.
Standard General affiliate General Wireless, which had
already bought more than 1,700 RadioShack stores, on Tuesday won
the auction with the offer, well over its initial bid of $15
million on Monday, Adrienne Walker, a lawyer with Mintz, Levin,
Cohn, Ferris, Glovsky and Popeo, said on Wednesday.
SAN FRANCISCO (Reuters) – The auction for bankrupt electronic retailer RadioShack’s name and customer data will resume on Tuesday with bidding at $15 million, according to a lawyer tracking the sale.
The high bidder is an affiliate of the Standard General hedge fund, which acquired 1,740 RadioShack stores in April, according to Adrienne Walker of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo.
By Dan Levine and Jim Christie
(Reuters) – Silicon Valley powerhouse venture capital firm Kleiner, Perkins, Caufield and Byers aims to recover about $973,000 in costs for defending itself against charges of gender discrimination, according to a court filing on Thursday.
In March, a jury cleared Kleiner Perkins of claims it short-circuited the career of former partner Ellen Pao because she is a woman in a trial closely watched in Silicon Valley, the center of the U.S. technology industry.
By Jim Christie
(Reuters) – Personal information gathered by RadioShack Corp from shoppers is not included in its sale, the consumer privacy ombudsman in the electronics retailer’s bankruptcy case said in response to concerns shared by several states that the data could be sold.
If that changes, Elise Frejka also said in a letter on Wednesday to U.S. Bankruptcy Judge Linehan Shannon she would file a report with recommendations based on specific facts and circumstances.
SAN FRANCISCO, March 25 (Reuters) – Jurors began
deliberating on Wednesday on a high profile lawsuit brought by a
former Kleiner Perkins Caufield & Byers partner who alleges she
suffered gender discrimination and retaliation at the storied
The jury of six men and six women started their discussions
shortly after attorneys for Kleiner and its former partner Ellen
Pao wrapped up their closing arguments.
SAN FRANCISCO (Reuters) – Prime Healthcare Services said on Tuesday it has withdrawn its offer to buy the Daughters of Charity Health System in California due to conditions imposed by the state, a move the struggling hospital chain said could force it into bankruptcy.
The non-profit hospital chain will attempt to find another buyer while considering a bankruptcy filing, said Chief Executive Officer Robert Issai. “Bankruptcy will be on the table,” he said.
March 4 (Reuters) – The judge overseeing RadioShack Corp’s
Chapter 11 bankruptcy case on Wednesday approved a revised $1.5
million bonus plan for eight top executives at the electronics
retailer, over the objection of the U.S. Trustee in the case.
U.S. Bankruptcy Judge Brendan Shannon said that while he
shared some of the trustee’s concerns over the key executive
incentive plan, or KEIP, he was convinced the executives would
be “up to their elbows” with the sale of 2,000 RadioShack
By Robin Respaut and Jim Christie
(Reuters) – California Attorney General Kamala Harris on
Friday granted conditional approval for the sale of the
six-hospital Daughters of Charity Health System to Prime
Healthcare Services, a move that may leave the non-profit
hospital chain at risk of bankruptcy.
Daughters of Charity Chief Executive Officer Robert Issai
welcomed Harris’ approval but said he needed to go through her
conditions to see if they could be met or would scuttle the
proposed $843 million deal.
Jan 20 (Reuters) – The judge overseeing the bankrupt city of
Stockton, California, has denied a motion by a holdout creditor
to stall the city’s plan to begin paying its debts.
U.S. Federal Bankruptcy Court Judge Christopher Klein said
on Tuesday the potential harm to other creditors, such as the
city’s 1,100 retirees, and to the city’s ability to attract new
business, along with the low likelihood of an appeal’s success,
convinced him to deny a pending stay on the confirmed plan.
By Jim Christie
NAPA Calif. (Reuters) – A 6.0 magnitude earthquake rocked wine country north of San Francisco early on Sunday, injuring more than 100 people, damaging historic buildings, setting some homes on fire and causing power outages around the picturesque town of Napa.
The quake, the biggest in the region in 25 years, jolted many residents out of bed when it hit at 3:20 a.m. (1020 GMT). It was centered 6 miles (10 km) south of the city of Napa, which is located about 50 miles northeast of San Francisco.