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The acquisition of $CIFC by FAB Partners has been approved by $CIFC's BoD, with Columbus Nova, $CIFC's majority holder, agreeing to vote its shares in favor of the deal. The transaction is expected to close in 2016. FAB has secured capital to acquire $CIFC from Supreme Universal Holdings, a company controlled by Qatar's royal family.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.