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Fly News Breaks for April 17, 2018
VAC, ILG, APO, BBX, BXG
Apr 17, 2018 | 09:13 EDT
B. Riley FBR analyst Mike Crawford says Apollo Global (APO) "could turn its eye toward" Bluegreen Vacations (BXG) or BBX Capital (BBX) itself with Bluegreen comp ILG (ILG) reportedly nearing a deal to be acquired by Marriott Vacations (VAC). The analyst has a Buy rating on BBX Capital, which owns 90% of Bluegreen Vacations, with a $14.50 price target.
News For BXG;BBX;APO;ILG;VAC From the Last 2 Days
APO
Mar 27, 2024 | 06:17 EDT
In the 2020 trial, Mohammed Ali Rashid, a former senior partner at Apollo Global, was accused of violating his duty to investors, Sujeet Indap of The Financial Times. At the time, Judge Kevin Castel concluded Apollo had been mistakenly and systematically charging expenses to the underlying funds, reducing their net returns and increasing Apollo's cut of overall profits. Castle ruled Apollo's accounting department deserved "significant blame," but still ruled Rashid violated U.S. securities law. Now, in 2024, Apollo's practices are back under the microscope, with an appeals court recently reversing Castel's decision, agreeing with Rashid that the private equity firm's expense system was broken enough at the time that Rashid could not have anticipated the victims of his illicit spending spree were Apollo's partners. Reference Link