FINANCE

Party City Holdings files $350 million IPO

BY CSA STAFF

Elmsford, N.Y. — Party City Holdings, parent company of Amscan Holdings, has filed an initial public offering of $350 million of common stock as it raises funds to pay down debt.

It intends to list under the symbol PRTY. Current stockholders are also likely to sell shares alongside Party City in the IPO.

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FINANCE

Report: CVS to pay $858K over inflated Rx claims in Indiana

BY CSA STAFF

Indianapolis — Indiana Attorney General Greg Zoeller says the state will get $858,000 from CVS Pharmacy to settle allegations that the company overcharged Medicaid programs, the Associated Press reported.

The amount represents Indiana’s share of a $17.5 million settlement reached last week with 10 states and the federal government.

The Justice Department says the settlement resulted from an investigation into claims CVS collected more than it should have from Medicaid for filling prescriptions for people who have other insurance as well. Typically, pharmacies can only bill Medicaid for the amount of a patient’s co-payment in those situations.

Zoeller said Thursday the total state settlement paid to the Indiana Medicaid program will be $858,176, including $572,117 for the state’s share of Medicaid restitution and $286,058 for additional recoveries.

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REAL ESTATE

Bloomingdale’s to expand outlet concept with three new stores

BY CSA STAFF

Cincinnati — Macy’s on Monday said it will open three Bloomingdale’s Outlet stores in the fall. The new locations will join the first four Bloomingdale’s Outlet stores opened in fall 2010 when the concept was launched.

The new Bloomingdale’s Outlet stores, which will range from 25,000 sq. ft. to 24,000 sq. ft. are scheduled to open in the following shopping centers with an upscale outlet store focus: Miromar Outlets, Estero, Fla.; Wrentham Village Premium Outlets, Wrentham, Mass.; and Woodfield Village Green, Schaumburg, Ill.

“Our first four outlet stores have helped us to learn this business and refine our merchandising and in-store presentation said Michael Gould, chairman and chief executive officer of Bloomingdale’s. “We continue to see opportunity for growth, and these three new locations will help us to extend the geographic reach of Bloomingdale’s Outlets and introduce the concept to new customers.”

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