FBI agents arrested 23-year-old student and former Internet Wire employee Mark Jakob of El Segundo on suspicion of making nearly $250,000 on stock trades after putting out a false press release Aug. 25 about Costa Mesa-based Emulex Corp. Intel Corp. filed a federal patent-infringement suit against Broadcom Corp., Irvine Motorola Inc. said it will acquire Printrak International Inc., Anaheim, for $160 million … Pacific Gulf Properties Inc., Newport Beach, sold seven multifamily properties to three separate buyers for $93 million and said it intends to liquidate the company … Costa Mesa-based Resources Connection Inc., a former subsidiary of Deloitte & Touche, filed for an IPO in hopes of raising $103.5 million Superior Court Judge Jack K. Mandel said Measure H, which would require that 80% of the county’s share of the national tobacco settlement be spent on health programs, may be unconstitutional but declined to order it off the November ballot, saying the county could challenge it in court if it passes … Exult Inc., Irvine, got a seven-year, $200 million contract for Web-based human resources services from Unisys Corp. Pacific Sunwear of California Inc., Anaheim, warned it may miss third-quarter profit estimates because of sluggish August sales.
TECHNOLOGY
Corning Inc. will spend $20 million to upgrade and expand its Garden Grove plant, which produces liquid-crystal devices used in fiber-optic networks Intersil Holding Corp., Irvine, said it will sell up to 3 million new shares and existing shareholders will sell up to 7 million in a secondary offering; the company has 94.5 million shares outstanding … Shares of Interplay Entertainment Corp., Irvine, rose 13.5% to 3 11/16 after it released its latest game, “Star Trek: New Worlds” … Internet Business’s International Inc., Newport Beach, acquired Tustin-based International Business Co. … Viasource Communications Inc. cut 20 jobs at its Newport Beach facility as part of a larger cutback … Meade Instruments Corp., Irvine, was added to Standard & Poor’s SmallCap 600 Index … Newport Corp., Irvine, ended a stock-buyback program begun in 1997; no repurchases had been made for a year; separately, Newport said it acquired Unique Equipment Co. of Chandler, Ariz., for undisclosed terms.
HEALTHCARE
KPC Medical Management, Anaheim, received an emergency $4 million bridge loan from PacifiCare of California and HealthNet; a separate $30 million loan from a group of HMOs, announced last month, still is pending … Special Situation Partners Inc., an 8.5% stakeholder in Costa Mesa-based ICN Pharmaceuticals Inc., threatened to nominate its own board slate in a dispute with ICN over its planned restructuring … Allergan Inc., Irvine, said it filed a patent-rights federal lawsuit against Japan’s Santen Pharmaceutical Co.; separately, Allergan licensed from Japan’s Kyorin Pharmaceutical Co. the rights to make and market outside East Asia an eye-drop antibiotic Edwards Lifesciences Corp., Irvine, received FDA approval for sales of its cow-tissue heart valve PacifiCare Health Systems Inc., Santa Ana, said it would buy back 750,000 shares that UniHealth Foundation has decided to sell, reducing UniHealth’s stake to 5.4 million shares, or 15.9% of the company … Micro Therapeutics Inc., Irvine, received FDA approval to expand its aneurysm treatment trials in the U.S. and the company’s shares rose 34% to 7 5/16 on the news … The board of Cooper Cos. Inc., Lake Forest, approved the repurchase of up to 1 million shares, about 7% of outstanding.
GOVERNMENT
A state Senate committee rejected a proposal to carve out 100 acres of the Tustin Marine base for a joint campus backed by the Santa Ana Unified School and Rancho Santiago Community College districts; Tustin officials, who are working with South Orange County Community College District on an education reuse of part of the base, opposed the bill Mexican officials are appealing a NAFTA trade tribunal ruling that Newport Beach-based Metalclad Corp. is entitled to $16.7 million from the Mexican government for the seizure of a company hazardous waste disposal site by the state of San Luis Potosi … The Legislature passed and sent to the governor a bill that would give $5 million to Orange County for beach-cleanup programs … Riverside County officials asked the OC Transportation Authority to support one of three proposed new freeway routes to link the two counties through the Cleveland National Forest … The Anaheim City Council voted to adopt a franchise system for taxi operations in the city.
FINANCE
PricewaterhouseCoopers settled with California investors who lost $136 million in fraud-ridden Irvine-based First Pension Corp.; terms were not disclosed … Costa Mesa-based DiTech.com founder J. Paul Reddam sued GMAC Mortgage Corp., alleging GMAC has not made performance-based payments that were part of its acquisition of DiTech Nevada investment group Everest Partners LP is pushing for a sale of Orange-based BYL Bancorp, which has been in merger talks with the People’s Bank of California.
REAL ESTATE
Standard Pacific Corp., Costa Mesa, acquired Denver-based Writer Corp. for $65.4 million …
