InfoGroup USA to retain Nasdaq listing
Jinfo Blog
28th January 2009
Item
On January 28, 2009 the NASDAQ announced that InfoGroup USA will be able to keep its listing on the exchange - http://digbig.com/4yehj. The Omaha, Nebraska-based company, which owns OneSource among other databases, had been under threat of delisting for failing to file financial documents in a timely manner. It retains its spot after firing CEO Vin Gupta in relation to a shareholder lawsuit, and agreeing to more stringent board oversight. A story in International Business Times (http://www.ibtimes.com) said: âUnder new rules InfoGroup adopted this summer, any transactions between InfoGroup and any business affiliated with an executive or large shareholder will require pre-approval from the board if they cost more than $120,000. In the past, InfoGroup had made sizable payments to a company Gupta owned called Annapurna Corp. for use of a jet plane, the 80-foot yacht American Princess, condos in Hawaii and California and a University of Nebraska stadium box. The shareholder lawsuit alleged the company misspent millions--some of it on former President Bill Clinton and his wife, Sen. Hillary Rodham Clinton, the former Democratic presidential contender.â The allegations against Gupta have been in the news for months, so itâs probably a relief to the InfoGroup team to have the business and the Nasdaq threat behind them. But itâs costing them a pretty penny to do so; under terms of the lawsuit settlement, Gupta agreed to pay InfoGroup US$9 million over the next five years. But thatâs after he gets a $10 million severance payment.About this article
- Blog post title: InfoGroup USA to retain Nasdaq listing
- Link to this page
- View printable version
What's new at Jinfo?
The AI agents are coming!
Community session
16th July 2024
GenAI in the news, access to private company data evolves and suppliers are getting to grips with AI
Blog posting
5th June 2024
Preqin's for sale. If you're a client, do this now
YouTube video
20th June 2024
- Jinfo Community session (TBC) (Community) 25th September 2024
- The AI agents are coming! (Community) 16th July 2024
- US private company data – what’s new? (Community) 18th June 2024
Learn more about the Jinfo Subscription