Monday, 22 September 2014
Last updated 36 min ago
Jul 5 2007 | 1:26pm ET
Hounded by a Massachusetts hedge fund, Pomeroy IT Solutions said today that it has sacked president, CEO and namesake Stephen Pomeroy.
The firing came after a review by an independent counsel, and was attributed to “certain conduct and actions” by Pomeroy, according to a statement from the company, that did not involved financial impropriety or any illegality.
In April, Cambridge, Mass.-based Flagg Street Capital, which owns about 10% of Pomeroy IT, launched a proxy battle to oust Pomeroy and his father, David, who serves as chairman of the Hebron, Ky.-based computer hardware and consulting business.
“Under Stephen Pomeroy’s watch as CEO, the company performed miserably at a time when the rest of the IT industry thrived, restated its financial statements more than once due to accounting errors, and consistently missed guidance,” Flagg Street charged in an April Securities and Exchange Commission filing.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.