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$EGN said it launched an underwritten public offering of 12MM shares of its common stock, subject to market and other conditions. The underwriter will have a 30-day option to purchase up to 1,800,000 additional shares from $EGN. The company intends to use the net proceeds from the offering to repay borrowings under its credit facility.
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.