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UPDATE 1-Velti to sell businesses to Blackstone, US ops file for bankruptcy
Nov 4 Ireland's Velti Plc said it would sell its mobile marketing business in the United States, Britain and India to a unit of Blackstone Group LP, and that it had filed for bankruptcy under Chapter 11 for its remaining U.S.
Velti Investors' Baker Tilly Securities Suit In Trouble
Law360, San Francisco (August 5, 2015, 9:23 PM EDT) -- A California federal judge cast doubt Wednesday on Velti PLC investors' claims that accountants Baker Tilly Virchow Krause LLP and Velti's underwriters misled shareholders before Velti wrote off ...
Velti Investors' Accountant, Underwriter Claims Thrown Out
Law360, New York (October 2, 2015, 1:27 PM EDT) -- A California federal judge has dismissed Velti PLC investors' claims that accountants and underwriters working with the mobile-advertising company concealed its poor financial prospects, saying the ...
Velti Announces Agreement to Sell Mobile Marketing Businesses in US, UK, and ...
SAN FRANCISCO, Nov. 4, 2013 /PRNewswire/ -- Velti plc (NASDAQ: VELT), a leading global provider of mobile marketing and advertising technology, announced today that it has agreed to sell its U.S.
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Velti Announces Resignation of Officers and Director
SAN FRANCISCO, Jan. 6, 2014 /PRNewswire/ -- Velti plc announced today that in conjunction with the completion of the sale of its mobile marketing business to GSO Capital Partners LP ("GSO"), Jeff Ross has resigned his position as chief financial ...
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Velti completes sale of mobile marketing businesses in India, UK & US to GSO ...
Mobile marketing and advertising technology company Velti Plc has closed the sale of its mobile marketing businesses in India, the US and the UK besides a part of its advertising business in the US to affiliates of GSO Capital Partners LP, which is the ...
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A Win for Nonsettling Defendants Facing Securities Act Claims
Velti PLC. The court's decision holds that, in the event of a partial settlement of claims under the Securities Act of 1933 (the Securities Act), nonsettling defendants are entitled to receive a judgment reduction equal to the proportionate liability ...
Velti Says Blackstone Affiliate to Buy Business Lines
Velti, a U.S. unit of Velti Plc, listed assets of as much $50 million and debt of as much as $100 million in Chapter 11 papers filed Nov. 4. Operations in the U.K.
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Mobile marketing group sold out of administration
DLA Piper assisted Deloitte in the sale process. Rick Chesley, who advised from the US side, said: “We are delighted to have advised Velti plc and its subsidiaries, and subsequently the UK administrators, on the successful sale of the Group'ss MMBU ...
Velti Buys Air2Web for $19m
Velti will pay an up-front consideration of approximately $8.4m for the remaining interest in CASEE, made up of $3.9m in cash, and, at Velti's discretion at close, $4.5m in cash or common shares of Velti plc. In addition, based upon CASEE's financial ...