Mississippi Business Journal » investing

Bank prices initial public offering at $24 per share

MBJ Staff — Mon, 13 May 2013 11:32:54 +0000

GULFPORT — First NBC Bank Holding Company, the New Orleans-based holding company for First NBC Bank, has priced its initial public offering of 4,166,667 shares of common stock at a price to the public of $24 per share. The common stock has been approved for listing on the NASDAQ Global Select Market, trading under the [...]

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Woman sentenced for bilking investors for bogus businesses

Associated Press — Tue, 29 Jan 2013 12:37:03 +0000

FAYETTE — A Natchez woman will spend 10 years behind bars for her part in a business scheme that reportedly bilked an investor by never opening the business into which the victim poured their money. The Natchez Democrat reports Emily Sanders was sentenced in Jefferson County Circuit Court to probation for her October conviction on [...]

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Mississippi gambles on technology developments some deem to be too risky

Becky Gillette — Fri, 18 Jan 2013 18:31:18 +0000

For years, Mississippi has placed a priority on providing assistance to technology companies to create jobs that pay more than average and help improve the economy of the state. But the failure of some of those start-up companies to get off the ground despite major incentive packages from the state raises concerns. Under the administration [...]

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Hancock Holding launches new investment fund

MBJ Staff — Wed, 26 Sep 2012 17:06:47 +0000

GULFPORT — Hancock Holding Company has launched the Hancock Horizon Diversified Income Fund as a new addition to the company’s $1.5-billion family of investment funds. The fund seeks to generate steady income from a combination of financial investments. Hancock Horizon Funds senior vice president and chief investment strategist John Portwood, CFA, said, “This will be [...]

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Lawmakers urging SEC to appeal decision over Stanford victims’ compensation

MBJ Staff — Fri, 03 Aug 2012 13:57:22 +0000

WASHINGTON, D.C. — Sen. Thad Cochran (R-Miss.) is supporting a legal appeal to try to overturn a federal court ruling that would deny compensation to victims of the multi-billion fraud perpetrated by the Stanford Financial Group. Cochran is one of 14 senators who have signed a letter encouraging Mary Schapiro, chairwoman of the Securities and [...]

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Hardy Reed makes magazine’s national ranking of RIAs

MBJ Staff — Wed, 25 Jul 2012 11:39:28 +0000

TUPELO — Hardy Reed, LLC was recently named a top 50 fastest-growing registered investment advisory firm in the U.S. by FA (Financial Advisor) magazine. Hardy Reed was listed as the nation’s 24th fastest growing RIA. FA’s 2012 RIA ranking is based on voluntary responses from 514 registered investment advisors who completed an online survey. The [...]

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Molpus Woodlands, Boston firm purchase nearly 2M acres in four states

MBJ Staff — Thu, 19 Jul 2012 22:12:36 +0000

JACKSON — The Hancock Timber Resource Group of Boston and Jackson-based Molpus Woodlands Group have purchased the 1.88 million acre timberland portfolio of Forest Capital Partners, the companies report. Terms of the transaction were not disclosed. Hancock Timber is acquiring 376,000 acres in Louisiana, 573,000 acres in Oregon, 138,000 acres in Idaho and 264,000 acres [...]

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Stanford faces sentencing for $7B-plus ponzi scheme

Associated Press — Thu, 14 Jun 2012 15:00:43 +0000

HOUSTON, Texas — If federal prosecutors have their way, former jet-setting Texas tycoon R. Allen Stanford could receive a prison sentence that spans two centuries for bilking investors out of more than $7 billion over two decades in one of the largest ponzi schemes in U.S. history. Calling Stanford a “ruthless predator” who stole from [...]

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Ex-Connecticut inn owner accused of bilking investors for resort project

Associated Press — Wed, 13 Jun 2012 01:09:31 +0000

LAKESHORE — A former owner of New London, Conn.’s, historic Lighthouse Inn is facing a trial in federal court on charges she helped defraud $1.7 million from investors in a resort project in Mississippi. Maureen Clark of Stonington and her former business partner, Cristopher Plummer of Lyme, were accused of using much of that money [...]

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Hosemann urging investors to file claim for Morgan Keegan settlement

MBJ Staff — Sat, 09 Jun 2012 22:18:42 +0000

ACROSS MISSISSIPPI — Eligible investors face a June 16, 2012 deadline to file a claim for a portion of a multi-million dollar settlement with Morgan Keegan. Last June, Secretary of State Delbert Hosemann negotiated a settlement on behalf of investors who invested in certain Morgan Keegan bond funds. “These settlement funds will bring some relief [...]

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