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Technology Provider OLA Sues Top Builders, Manufacturers in Texas Court
Suit claims major home builders and manufacturers stole proprietary technology and violated agreements.
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Standard Pacific Moves to Shore Up Cash Position
Standard Pacific announced a series of three financial moves Tuesday that it says will position the company to aggressively buy discounted land during the market's slowdown. One of the three moves increases Standard Pacific's cash holdings, but it also ups MatlinPatterson Global Advisors' ante in the company it rescued from the brink of bankruptcy and, at the same time, dilutes the company's stock. CEO Ken Campbell said Tuesday morning that the deal equates to selling MatlinPatterson stock for $4.69 a share, more than the stock has been trading for recently. The announcement triggered a selloff of Standard Pacific shares, sending the stock down more than 10% before it closed down 9.4% at to $3.48.
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Sekisui House Acquires The Holt Group
Washington-based The Holt Group serves first-time and move-up buyers in the Pacific Northwest and closed nearly 700 homes in 2021.
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