Former Duane Reade CFO Tennant gets probation in securities fraud case
NEW YORK — Former Duane Reade CFO William Tennant was sentenced to three years of probation for his securities fraud conviction in June 2010, according to published reports.
Tennant, convicted of one count of securities fraud, was sentenced by U.S. District Judge Deborah Batts in a hearing Tuesday in a Manhattan federal court.
As previously reported, former Duane Reade CEO Tony Cuti was sentenced on Aug. 22 to three years in prison in connection with accounting fraud at the New York-based drug store chain. Cuti, who is to report to prison on Jan. 31, 2012, also must pay a $5 million fine.
In June 2010, Cuti was found guilty of conspiracy, securities fraud and making false statements. Tennant was found guilty of securities fraud.
From November 2000 through June 2005, Cuti and Tennant reported inflated income from fraudulent real estate transactions and reduced company expenses through fictitious credits from vendors, prosecutors said.
Harmonix’s Sleep Formula 39 enters market
ATLANTA — Harmonix has launched Sleep Formula 39, a nonprescription sleep aid.
Available in twin packs of 2-oz. single-serving bottles, the product is made with a proprietary combination of ingredients, including 5-HTP, melatonin, GABA and L-Tryptophan, according to the company.
Sleep Formula 39 is available on GNC.com and select retailers.
Cat’s Pride debuts Fresh & Light litter line
CHICAGO — Cat’s Pride has introduced a new line of clumping litter.
The brand’s new Fresh & Light litter features a premium clumping, low-dust formula that reduces tracking and absorbs odor-causing enzymes on contact, stopping odor before it starts. Additionally, the new litter blend is up to 25% lighter weight than other scoopable cat litters, the company said.
Cat’s Pride Fresh & Light, available multi-cat and fragrance-free formulas, can be found in the pet care section of Walmart stores nationwide.