SEC urges court to grant motion to Qwest case
A federal court should grant the government’s state-secrets motion in a civil fraud case against former Qwest chief executive Joe Nacchio and other former Qwest executives, the Securities and Exchange Commission said in a filing.
The SEC argues that the government’s motion — which seeks to bar Nacchio and others from soliciting and disclosing information about “any classified or potential contracts involving any U.S. intelligence agency and Qwest” — is a separate issue from the defendants’ request to have the case tossed if the government is allowed to assert its state-secrets privilege.
The SEC alleges in its suit that Nacchio, former president Afshin Mohebbi, former finance chief Robert Wood ruff and former accountants James Kozlowski and Frank Noyes helped Qwest fraudulently book $3 billion in revenue from 1999 to 2002. Qwest later restated much of that revenue.
Energy developer sues hedge-fund manager
Jack Grynberg, a Colorado-based developer of oil and natural gas, sued hedge-fund manager Florian Homm, saying he defrauded investors by buying penny stocks sold through a brokerage firm he secretly owned.
The suit, filed last week in U.S. District Court in Denver, says Homm and Todd Ficeto each own 50 percent of Hunter World Markets Inc., a Beverly Hills, Calif.-based broker. Hunter World earned a commission when the so-called Pink Sheets stocks were sold to three Absolute Capital Management Holdings Ltd. funds in which Grynberg invested $12 million. Homm managed the funds.
Wild Oats Markets sues mall
BOULDER — Wild Oats Markets is suing the operator of the Twenty Ninth Street mall in Boulder for not allowing it to sublease its unused 39,708- square-foot space to a Sports Authority store.
Mall owner Macerich Twenty Ninth Street LLC said in court papers filed Friday that Wild Oats, which was acquired by Whole Foods in August, was supposed to be one of three anchor businesses at the location, agreeing to run a specialty-foods store for at least five years of a 15-year lease.
In a complaint filed Dec. 17 in Boulder County District Court, Boulder-based Wild Oats asked a judge to order Macerich to accept the sublease to Sports Authority. In its response, Macerich said it wants the court to find Wild Oats in breach of the lease or else force it to find a specialty grocery store to take up the vacant space, court records show.
TransMontaigne finalizes petroleum deal
TransMontaigne Partners LP said Monday it has finalized its acquisition of 21 refined-petroleum- products terminals and associated property along the Colonial and Plantation pipelines from TransMontaigne Inc. for a total of $125 million.
Denver grand jury indicts developer
A Denver grand jury has handed down an indictment charging developer Erik Osborn with two counts of theft in connection with two condo projects.
The indictment, issued Monday, alleges that Osborn diverted money from two development projects and used it for improvements to his own home. The indictment alleges that Osborn diverted about $108,000 from a project at 5351 S. Roslyn St. in Greenwood Village and about $147,000 from One Lincoln Park in downtown Denver.
Osborn is expected to surrender this week.
Ex-CEO of Starbucks coming back
SEATTLE — Starbucks Corp. said Monday it is bringing chairman and former chief executive Howard Schultz back to lead a major restructuring initiative, replacing CEO Jim Donald.
Post staff and wire reports
