The gloves have come off as former LandAmerica customers fight to retrieve money they gave to the company to hold for a few months. Lawyers representing former customers of LandAmerica’s 1031 Exchange business have filed two class action lawsuits against the company, alleging that the Richmond-based firm committed fraud and was using money from new… Read more »
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Chamber rethinks fundraising strategy
Your business contacts and vendors will no longer be shilling on behalf of the Greater Richmond Chamber of Commerce. In light of tighter budgets, the group said it expects that companies want their employees working on company projects and not spending time working the phones for the chamber. The GRCC decided last week to reign… Read more »
LandAmerica files for bankruptcy & sells underwriting units
Title insurer LandAmerica has filed for bankruptcy. Three of its underwriting units will be sold, the company said. The stock is trading at $.20 a share, down 80% from the close yesterday. Fidelity National Financial said it would buy LandAmerica’s underwriting units Lawyers Title Insurance Corp and United Capital Title Insurance Co for $139.4 million…. Read more »
LandAmerica to be sold
Updated 10:10 a.m.: LandAmerica, the struggling Glen-Allen-based title insurance company has agreed to sell itself to Fidelity National Financial in a stock deal valued at about $128.4 million.
Highest Paid Execs in Richmond
Thirteen out of the top 40 highest paid executives of publicly traded companies are based in Richmond, according to the most recent issue of Virginia Business magazine. The following figures are total annual compensation and only for companies with at least $1 billion in revenue: Louis Camilleri of Altria: $24 million Thomas Farrell, Dominion Resources:… Read more »