Ex-Real Estate Exec Accused Of $77M WeWork Stock Fraud - Law360: Manhattan federal prosecutors announced Thursday that the former CEO of real estate investment firm ArciTerra was indicted, alleging he issued a bogus $77 million offer for WeWork shares in an ultimately failed attempt to cash in on call options after juicing the stock price.
Two-Thirds of US Adults Would Rather Wait for Movies on Streaming: “The competition continues between streaming services and the Hollywood engine. While we still see evidence of loyal movie-goers in recent box office numbers, our study shows that 2 in 3 movie watchers prefer to stream movies at home,” Alli Brady, VP at HarrisX, told IndieWire.
Sam Bankman-Fried Should Get 40 to 50 Years in Prison, Prosecutors Say - The New York Times: The prosecutors outlined the recommendation in a filing in U.S. District Court in Manhattan. Mr. Bankman-Fried’s sentencing hearing is scheduled for March 28, when Judge Lewis A. Kaplan will decide his fate.
Westbrook Partners defaults on loan tied to San Francisco Four Seasons at Embarcadero - San Francisco Business Times: The hotel, which was slated to open just a few months after the pandemic's onset in San Francisco, appears to have been especially vulnerable to the ups and downs of the city's downtown over the last few years.
JOANN Enters into Agreement to Reduce Debt and Receive $132 Million in New Capital and Related Financial Accommodations with Strong Support of Key Financial and Industry Stakeholders | JOANN, Inc: Stores and JOANN.com Remain Open; Company Continues to Operate as Usual; Vendors, Landlords and Other General Unsecured Creditors Are Unimpaired; Company Expects to Reduce Approximately $505 Million in Funded Debt; Implementing Prepackaged Financial Recapitalization Plan on Expedited Basis
