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July 2013 Archives

Michigan grocery chain plans all-stock merger

A popular chain of grocery stores based in Michigan known as Spartan Stores recently announced plans to merge with Nash Finch, an out-of-state grocery distributor, in a $1.3 billion deal, an estimated value that includes approximately $312 million in stock of both firms' net debts.

Michigan Arab American's claim accuses bank of discrimination

A group of Arab American Michigan residents allege that a bank discriminated against them by closing their accounts without explanation, according to a class action lawsuit recently filed on their behalf in a U.S. District Court in Detroit. The representative for the defendant in the recent claim said he could not comment on pending litigation, but stressed that bank's gratefulness at being able to service Detroit's Arab American community.

Michigan credit union hopes to follow merger with expansion

Preferred Credit Union, a Michigan company recently formed after the finalization of a merger between two smaller financial institutions, has applied for approval that would allow it to dramatically expand its presence in the state. If its requested community-based charter is granted, Preferred hopes to expand its services to 28 counties spanning nearly the entire length of Michigan. The combined company currently employs around 60 employees across six branches.

Facebook denies Michigan company's copyright violation claims

Facebook and an advertising firm contracted by the social networking website recently filed a written response when a Detroit court rejected claims that it violated copyrights held by rapper Eminem's song publishing company, Eight Mile Style. The Michigan-based publishing firm accused Facebook of airing a commercial using music that is extremely similar to an Eminem and D12 song entitled "Under the Influence," thus violating Eight Mile Style's copyright on the track.

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