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$VZ agreed to buy Sensity Systems, a private company based in Sunnyvale, California, for undisclosed terms. The acquisition is expected to close in 4Q16. Weil, Gotshal & Manges LLP acted as legal advisor to $VZ. Pagemill Partners acted as financial advisor to Sensity, and Fenwick & West LLP acted as legal advisor.
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.