Sun Savings detailed its capital infusion plan.
- Share via
As expected, the troubled San Diego-based thrift reported that a 1.1-million-share stock offering and the purchase of 247,000 shares by developer Victor Fargo will boost Sun’s $6-million net worth to about $13.4 million. As a condition of the capital infusion, Sun will move its corporate headquarters into a La Jolla office building developed by Fargo. Dissident shareholder Robert Blake, an Orange County developer, has vowed to block the sale to Fargo because Fargo is a friend of ousted Sun Chairman Daniel W. Dierdorff and is the brother-in-law of Sun director Ted Van Leeuwen.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.