Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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FDA Clears AcuFocus Inlay

The Food and Drug Administration has approved Irvine-based AcuFocus Inc.’s Kamra corneal inlay for treating presbyopia.

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Midday Stock Roundup

The S&P 500 was up 1% to 2,101.71.

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Anaheim Recycling Company Sold

Anaheim-based recycling services provider Certified Recycling has been acquired by Tricor Pacific Capital, a Vancouver-based private equity firm with an office in Chicago.

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UC Irvine Health Opens Tustin Specialty Center

The healthcare enterprise of the University of California-Irvine said today that it opened a new specialty healthcare center in Tustin.

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UC Irvine Health Opens Tustin Specialty Center

The healthcare enterprise of the University of California-Irvine said today that it opened a new specialty healthcare center in Tustin.

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Private Companies Wanted for Annual List

The Business Journal is preparing its annual list of privately owned companies for publication in June.

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Allergan Laying Off 577 in Irvine

Allergan Inc., now a business unit of drugmaker Actavis PLC, will lay off 577 workers in Irvine, according to a state filing.

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Midday Stock Roundup

Major stock indices declined in midday trading on overseas news that included a strong Euro, financial woes in Greece, and new stock trading regulations in China.

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OC Adds Jobs in March, Unemployment Down

Orange County employers added 9,800 jobs in March, helping drive down the unemployment rate to 4.4%.

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HB Insurance Brokerage Acquired

Madison Risk & Insurance Services in Huntington Beach has been acquired by Itasca, Ill.-based Arthur J. Gallagher & Co. on undisclosed terms.

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M-Flex CFO Resigns

Multi-Fineline Electronix Inc. Chief Financial Officer Tom Liguori has resigned to pursue other opportunities, the Irvine-based printed circuit board maker announced after the close of intraday trading.

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Irvine Restaurant Group Plans 12 OC Franchises

Irvine-based American Restaurant Holdings Inc. said it signed an Orange County franchisee for Muscle Maker Grill, the restaurant chain in Colonia, N.J. that an affiliate acquired in January.

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Allergan Laying Off 577 in Irvine

Allergan Inc., now a business unit of drugmaker Actavis PLC, will lay off 577 workers in Irvine, according to a state filing.

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Midday Stock Roundup

The S&P 500 was up 0.1% to 2,107.26.

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Wet Seal Sale Final

Mador Lending LLC completed the acquisition of Wet Seal Inc., the affiliate of Philadelphia-based Versa Capital Management LLC announced Wednesday.

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Del Taco Plans Debt Pare Down, TACO Ticker

Lake Forest-based Del Taco Holdings Inc. would cut its debt by $139 million—or more than 40%—if its acquisition by Chicago-based Levy Acquisition Corp. closes as planned in June, according to documents filed with the U.S. Securities and Exchange Commission.

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Midday Stock Roundup

The S&P 500 was up 0.5% to 2,106.91.

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Plaza Q1 Profit Slips on Acquisition Costs, Lending Up

Irvine-based Plaza Bank posted $1.6 million in first-quarter profit, down about 5% from the same period a year ago.

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Los Al Aerospace Company Acquired

Los Alamitos-based Alliance Spacesystems LLC, which manufactures composite structures for the aerospace industry, was acquired by SolAero Technologies Corp., an Albuquerque, N.M.-based solar panels maker.

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Cajun Fusion Chain to Enter OC

Houston-based La. Crawfish said a franchisee plans to open the chain’s first restaurant in Orange County, in Anaheim, and that the company is negotiating with a Los Angeles-based restaurant operator for an area development deal to cover the rest of OC and L.A.

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Corinthian Unit Fined $29.7 Million

The U.S. Department of Education said today it fined a subsidiary of Santa Ana-based Corinthian Colleges Inc. $29.7 million.

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Little Saigon News In BK

The Little Saigon News Inc. in Garden Grove has filed for Chapter 11 bankruptcy protection, according to documents filed with U.S. Bankruptcy Court Central District of California in Santa Ana.

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Habit Top Shareholder Trims Stake

The private equity firm that has controlled Irvine-based Habit Restaurants Inc. since leading an investor group in a 2007 buyout of the fast-casual burger chain is expected to trim its holdings to less than a majority stake through a secondary share offering that’s set to close tomorrow, the company and news reports said.

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Midday Stock Roundup

The S&P 500 was up 0.1% to 2,095.34.

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NB Startup Raises $23M

Newport Beach startup Acorns Grow Inc. has raised $23 million to fuel the growth of its smartphone app that aims to bring microinvesting to the masses.