SWFI First Read, July 20, 2016
Philadelphia Pension CIO Passed Away
Michael Donatucci, the newly-hired chief investment officer (CIO) at the Philadelphia Board of Pensions and Retirement, died on July 15, 2016. Donatucci was 30 years old. He joined the pension as CIO on June 1, 2016. He had been a client investment strategist at SEI Investments.
Temasek Makes Offer to Buyout SMRT
Singapore’s Temasek Holdings has offered 1.18 billion SGD (US$ 869 million) to acquire the remaining shares of SMRT Corporation, the country’s transport operator. The offer values SMRT at 2.565 billion SGD. The financial advisor for SMRT was Bank of America Merrill Lynch. The financial advisor for Temasek was Credit Suisse.
Kessler Topaz Meltzer & Check Files Lawsuit Against Inovalon
Bowie-based Inovalon Holdings, Inc. is a technology company that provides cloud-based data analytics and data-driven intervention platforms to the healthcare industry in the United States. Law firm Kessler Topaz Meltzer & Check, LLP has filed a shareholder class action lawsuit against Inovalon Holdings, Inc. on behalf of purchasers of the company’s common stock issued pursuant or traceable to the registration statement and prospectus filed in connection with Inovalon’s February 12, 2015 initial public offering (IPO) of common stock. The lawsuit alleges that the IPO offering materials were negligibly prepared, contained untrue statements of material facts, and omitted to state other necessary facts. Among other things, the complaint alleges that the IPO offering materials failed to disclose the substantial revenues Inovalon derived from sales in New York City and the State of New York.
Monica Lai Appointed Senior Investment Director at Alfred P. Sloan Foundation
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