News

Former Duane Reade execs still face fraud convictions

BY Dan Berthiaume

New York — Former Duane Reade CEO Anthony Cuti and CFO William Tennant failed in an attempt to have their 2010 convictions for securities fraud overturned. The Second U.S. Circuit Court of Appeals in New York upheld a June 2010 federal jury decision to find Cuti and Tennant guilty of providing misleading earnings information to shareholders and private equity group Oak Hill Capital partners, which purchased Duane Reade in 2004, between 2000 and 2004.

In August 2011, Cuti was sentenced to three years in prison and a $5 million fine on multiple charges, including conspiracy to commit securities fraud, securities fraud and making false statements to the U.S. Securities and Exchange Commission. Tennant was sentenced to time served and a $10,000 fine on a single charge of securities fraud.

Cuti is separately appealing an order to pay Oak Hill Capital Partners and Duane Reade more than $7.6 million in restitution. Walgreens bought Duane Reade from Oak Hill in 2010.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

SoloHealth Stations at Sam’s Club stores include Vitamin Assessment module

BY Alaric DeArment

ATLANTA — Health kiosks made by SoloHealth and placed in Sam’s Club stores will have a new feature installed to allow users to assess their needs for vitamins and supplements.

The company said its SoloHealth Station kiosks at stores operated by the club retailer would include a Vitamin Assessment module. The module will only be installed on Sam’s Club’s kiosks, the company said. The kiosks also include screenings for vision, blood pressure, weight and body mass index.

"We applaud Sam’s Club for being a true pioneer and leader in the health and wellness space, as well as their passionate commitment to their members," SoloHealth CEO Bart Foster said. "We look forward to continue working with Sam’s Club to develop and offer services that will provide value and help produce better health outcomes."

The Vitamin Assessment allows users to use a touchscreen process and prompts to answer a series of questions about daily nutritional intake, health and fitness routines and specific health issues and concerns. Individual product recommendations are produced based on the responses.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Little Busy Bodies announces licensing agreement with P&G

BY Sierra McCleary-Harris

CINCINNATI — Little Busy Bodies on Wednesday announced it has finalized a licensing agreement with Procter & Gamble. Under the agreement, Little Busy Bodies, creators of the popular Boogie Wipes, will make and market a line of saline-infused products under the Puffs brand.

Available this June, Puffs Fresh Faces is a moist saline tissue for adults. “When we first developed Boogie Wipes in 2007, we knew saline worked wonders when it came to cleaning and soothing stuffy noses. We also knew saline had positive effects on the skin and ultimately wanted to tap into that knowledge when the time was right,” said Julie Pickens, CEO of Little Busy Bodies. “Our partnership with P&G has really allowed us to build on the technology behind the use of saline for personal care and to realize our goal of taking moist saline wipes to the next level.”

Puffs Fresh Faces are built on the same quality foundation established by Pickens and her team of fellow moms. But different from kid-oriented Boogie Wipes, Fresh Faces can be used to remove makeup, clean or refresh the face after a long day or tough workout, and to take on sneezes and mucus-filled moments caused by colds, the flu and allergies.

Puffs Fresh Faces will be offered in Fresh Scent, Light Lavender, with a touch of Vicks and fragrance free. Puffs Fresh Faces will be available in 15-count packs for $1.99 and 45-count packs for $4.99. For more information, visit PuffsFreshFaces.com.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES