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ARTICLES

$50M HHGregg suit attacks insiders for accepting customer deposits to very end

A lawsuit quietly wending its way through a Marion County court zings former HHGregg CEO Bob Riesbeck and three other insiders of the failed chain, alleging they allowed it to continue accepting customers’ deposits on merchandise long after its tailspin cast doubt on whether it had the financial wherewithal or inventory to fulfill the orders.
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Former ITT Educational execs to pay $300,000 to settle SEC lawsuit

Former ITT Educational Services Inc. CEO Kevin Modany has agreed to pay $200,000 and accept a five-year ban from serving as an executive of a public company to settle a Securities and Exchange Commission lawsuit accusing management of hiding the rapidly eroding financial condition of the now-defunct firm from investors. Former ITT Chief Financial Officer Daniel Fitzpatrick agreed to pay $100,000 and accept the same ban under a separate settlement.
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