EDUCATION
Nancy Alvarez, assistant dean of experiential education and continuing professional development at Chapman University’s School of Pharmacy, was inducted as president of the American Pharmacists Association. She succeeds another Chapman professor, Lawrence Brown, as head of the world’s largest professional society of pharmacists, which is based in Washington, D.C.
FINANCE
Bond investor Bill Gross settled a lawsuit against the company he co-founded, Pacific Investment Management Co. PIMCO is donating about $81 million to the William and Sue Gross Family Foundation, according to a source familiar with the matter who said the legendary bond investor filed a request for dismissal in California Superior Court. As part of the settlement, PIMCO will include Gross and other founders in a new founders room in their honor at PIMCO’s Newport Beach headquarters. Gross left PIMCO in 2014 and later sued the investment firm for $200 million, alleging he was forced out and denied a portion of his bonus.
HEALTHCARE
St. Joseph Hospital-Orange named Scott Rusk chief medical officer, effective immediately, with a mandate to “improve clinical quality and outcomes,” Chief Executive Jeremy Zoch said. Rusk previously served as vice president of medical affairs and chief medical officer at the 143-bed Mercy Health System of Maine. He replaces interim chief medical officer Paul Beck, an orthopedic surgeon at St. Joseph Hospital.
LAW
Costa Mesa-based Lobel Weiland Golden Friedman LLP won the Turnaround M&A Atlas Award, which it will receive on April 4 at the Metropolitan Club in New York. The award honors law firms for work in restructuring and turnaround transactions. Lobel Weiland is being honored for its work on the former Freedom Communications’ Chapter 11 sale to Denver-based Digital First Media.
MEDIA
One of Ubiquity Inc.’s largest shareholders wants to immediately replace the Irvine-based media and technology company’s top executives. Strategic Capital Management Ltd. in Sydney, Australia, owns about 21 million shares of Ubiquity—worth about $5.9 million and good for a roughly 9% stake in the company. It demanded in writing that Ubiquity call its annual shareholder meeting and vote on a proposal to replace executives Chris Carmichael, Connie Jordan, and Bola Ajere, plus its entire board with a new, independent slate of directors. Strategic Capital cited legal actions against the company and its recent executives among reasons for the desired changes, and regulators have also weighed in. The Securities and Exchange Commission temporarily suspended Ubiquity’s stock last month, citing a lack of current and accurate information due to delinquent required periodic filings. Ubiquity hasn’t filed an annual report since 2014.
REAL ESTATE
The Anaheim Ducks’ future training facility in Irvine will be named after Aliso Viejo-based developer FivePoint, the Orange County Register reported. The main arena at the future ice complex at Orange County Great Park will bear FivePoint’s name following an Irvine City Council vote of approval. FivePoint will pay $2.2 million over 10½ years for the rights.
MBK Homes LLC President and Chief Executive Timothy Kane said he’ll retire from the Irvine-based homebuilder. The subsidiary of Japanese industrial conglomerate Mitsui & Co. said Kane will be succeeded by Craig Jones, current vice president of acquisitions and asset management for the builder. Kane joined MBK in 1996, became president in 2003, and was promoted to CEO in 2014.
