On Wednesday, Shares of Facebook, Inc. (NASDAQ:FB), lost -0.10% to $80.55.
Troy Stratos, who lied his way into the wealthiest circles in Silicon Valley, used the frenzy for pre-IPO Facebook Inc. shares to bilk investors out of $11.25 million, a federal jury in California concluded, according to Bloomberg.
The Sacramento jury found Stratos, 49, guilty of wire fraud and money laundering for masquerading as an agent of billionaire Carlos Slim, prosecutors said Tuesday in a statement. Stratos convinced the manager of a Philadelphia family office to send money that he would in turn use to buy Facebook shares from employees before its initial public offering in May 2012.
Instead, Stratos spent the money paying off old gambling debts and buying a small fleet of luxury cars, the U.S. Justice Department alleged in its 2013 indictment. Bloomberg Reports.
Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications.
Shares of Frontier Communications Corporation (NASDAQ:FTR), declined -0.74% to $5.34, during its last trading session, hitting its lowest level.
On May 11, Frontier Communications Corporation declared that the Federal Trade Commission has granted early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to Frontier’s projected acquisition of Verizon’s (VZ) wireline operations providing services to residential, commercial and wholesale customers in California, Florida and Texas. The definitive agreement between Frontier and Verizon was declared February 5, 2015.
The expiration of the HSR waiting period satisfies one of the conditions of the completion of the transaction, which remains subject to other customary conditions, counting the approval of the Federal Communications Commission and certain governmental authorities in the states covered. The transaction is predictable to close in the first half of 2016.
Frontier Communications Corporation, a communications company, provides regulated and unregulated voice, data, and video services to residential, business, and wholesale customers in the United States. The company offers residential services, such as fiber-to-the-home and fiber-to-the-node broadband, video, and voice over Internet protocol products, in addition to traditional copper-based broadband products; and commercial services, counting Ethernet, dedicated Internet, multiprotocol label switching, time division multiplexing, data transport services, and optical transport services.
At the end of Wednesday’s trade, Shares of Ally Financial Inc. (NYSE:ALLY), gained 1.66% to $22.62.
On May 14, Ally Financial declared that it has commenced cash tender offers to purchase up to $700,000,000 aggregate principal amount (subject to enhance by Ally, the “Aggregate Maximum Tender Amount”) of the following series of notes issued by Ally:
- 000% Senior Guaranteed Notes due 2020 (the “8.000% Senior Guaranteed Notes”);
- 500% Senior Guaranteed Notes due 2020 (the “7.500% Senior Guaranteed Notes”);
- 000% Senior Notes due 2031 (the “2031 Notes”);
- 500% Senior Guaranteed Notes due 2017 (the “5.500% Senior Guaranteed Notes”); and
- 250% Senior Guaranteed Notes due 2017 (the “6.250% Senior Guaranteed Notes” and, together with the 8.000% Senior Guaranteed Notes, the 7.500% Senior Guaranteed Notes, the 2031 Notes and the 5.500% Senior Guaranteed Notes, the “Notes”).
Ally Financial Inc. provides financial products and services primarily to automotive dealers and their customers in the United States. It offers dealer financial services, counting a range of financial services and insurance products to automotive dealers and retail customers.
Finally, Diamondrock Hospitality Co. (NYSE:DRH), ended its last trade with -0.52% loss, and closed at $13.44.
On May 8, Diamondrock Hospitality declared results of operations for the first quarter ended March 31, 2015.
Shorebreak Hotel Acquisition
The Company attained the 157-room Shorebreak Hotel, a lifestyle hotel located beachfront in Southern California for $58.5 million on February 6, 2015. The purchase price now represents a 12.4 multiple on projected 2015 Hotel Adjusted EBITDA, which is ahead of our underwriting. In conjunction with the acquisition, the Company engaged Kimpton Hotel and Restaurant Group to operate the hotel.
ATM Equity Offering Program
The Company sold 524,606 shares of its common stock under its at-the-market (“ATM”) equity offering program at an average price of $15.18 for net proceeds of $7.8 million during the first week of 2015. The Company has not sold any additional shares under the ATM program since the first week of 2015.
DiamondRock Hospitality Company, a lodging focused real estate company, owns premium hotels and resorts in North America. The company operates its hotels under the Hilton, Marriott, and Westin brand names in New York, Los Angeles, Chicago, Boston, and Atlanta; and in destination resort locations, such as the United States Virgin Islands and Colorado.
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