Daily Record Financial News &
Monday, January 29, 2018
Vol. 105, No. 051 • One Section
35¢ www.jaxdailyrecord.com
Handle your data with care, IT expert advises attorneys
Civic Council reactivates Downtown task force The influential business and civic leaders want a consistent vision. Downtown will be front-andcenter this year among the city’s business and civic leaders. Consider: Jacksonville Jaguars owner Shad Khan is negotiating to develop the 70-acre Northbank riverfront Shipyards mixed-use project and an entertainment zone in the Sports Complex. Developer Peter Rummell and project partner Michael Munz continue pursuing plans to build the The District healthy-lifestyle community and commercial property on the Southbank riverfront. The Landing and the unfinished Berkman II condominium are targeted as leading contenders for redevelopment on the Northbank riverfront. In the core, The Barnett and Laura Street Trio are slated for redevelopment and JEA is figuring out whether it wants to build a new headquarters tower. And the latest, the Downtown Investment Authority intends to issue a Request for Proposals for a Northbank riverfront convention center whose cost is estimated by
Photo by Max Marbut
Computer Forensic Services Chief Technology Officer Mark Lanterman, left, and Tad Delegal, president of The Jacksonville Bar Association.
Mark Lanterman, chief technology officer for Computer Forensic Services, offers insight and advice for attorneys as more work shifts online.
By Max Marbut Associate Editor Attorneys can work anywhere, any time, storing and accessing legal and other documents via the internet, but they also must know the risks that come with the ease of doing so. Mark Lanterman, chief technology officer at Minneapolis-based Computer Forensic Services LLC, offered insight and advice about electronic evidence and its
value in the areas of litigation and criminal investigation Thursday to members of The Jacksonville Bar Association. Lanterman’s company was established in 1998 and, in addition to Minneapolis, has offices in Los Angeles, Denver and, as of three weeks ago, Jacksonville. The company offers services related to discovery, litigation and information security as well as electronic evidence proTech
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ADT’s IPO called ‘a flop’ as stock falls below initial price
Boca Raton-based company has more than 3,000 workers in Jacksonville.
ADT Inc.’s return to Wall Street could be described, at best, as a disappointment. Some viewed the security company’s initial public offering in harsher terms, such as The Wall Street Journal calling it a “flop” and CNBC pundit Jim Cramer calling it an “insult” to the market. ADT said on Jan. 5 that it was expecting to price its IPO between $17 and $19 a share.
But when the deal was brought to the market Jan. 18, the offering of 105 million shares was priced at $14. The price continued dropping when trading began Jan. 19, with the stock closing at $12.39 on its first day, and it traded as low as $11.12 last week. ADT first became a public company in October 2012, when it was spun off by Tyco International Ltd.
The company was taken private in May 2016 by funds affiliated with Apollo Global Management LLC, which bought it for $6.9 billion. Apollo retains control of the company after the IPO with 85.6 percent of the stock, according to a Securities and Exchange Commission filing. In an interview on CNBC (not with Cramer) when the stock began trading, ADT Chief Execu-
tive Officer Timothy Whall was asked why the company rushed back to the market after less than two years as a private company. Whall said the company had met Apollo’s five-year financial targets within two years, so there was no reason to wait. The stock sale moved pretty fast, as ADT filed its first registration statement with the SEC Basch
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The Marbut Report: Supreme Court justice visits Stephen Breyer, 79, reveals what he thinks is the biggest threat to the court. Public
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