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Associated Press
26 minutes ago
- Associated Press
A timeline of the rise of Sean 'Diddy' Combs and his legal troubles
For more than two decades, Sean 'Diddy' Combs was one of hip-hop's most nimble entrepreneurs, spinning his hitmaking talents into a broad business empire that included a record label, a fashion brand, a TV network, deals with liquor companies and a key role in a reality TV show. Then he was charged with forcing, threatening and manipulating two ex-girlfriends into drug-fueled sex marathons, with assistance from a network of associates. Combs denied the allegations and went to trial in a high-stakes federal sex crimes and racketeering case. The trial ended Wednesday with a verdict that his attorneys called a victory: Combs was convicted of prostitution-related offenses but acquitted of higher-level charges of racketeering and sex trafficking. Here is a timeline of major events in his life story: 1990-1999 1990: Combs, then a student at Howard University, gets his start in the music business with an internship at Uptown Records in New York. Dec. 28, 1991: Nine people die at a celebrity basketball game promoted by Combs and the rapper Heavy D when thousands of fans try to get into a gym at the City College of New York. A mayoral report lays part of the blame for the catastrophe on poor planning by Combs. 1992: Combs is one of the executive producers on Mary J. Blige's debut album, 'What's the 411?' 1993: After being fired by Uptown, Combs establishes his own label, Bad Boy, which quickly cuts a lucrative deal with Arista Records. 1994: Bad Boy releases Notorious B.I.G.'s album 'Ready to Die.' Two months later, Tupac Shakur survives a shooting in New York and accuses Combs and Biggie of having prior knowledge of the attack, which they deny. Shakur was later killed in a 1996 shooting in Las Vegas. 1996: Combs is convicted of criminal mischief after he allegedly threatened a photographer with a gun. 1997: Biggie is killed in Los Angeles. Combs, then known as Puff Daddy, releases 'I'll be Missing You' in honor of his dead star. 1998: Combs wins two Grammys, one for best rap album for his debut 'No Way Out' and another for best rap performance by a duo or group for 'I'll Be Missing You' with Faith Evans. Also that year, Combs' Sean John fashion line is founded. April 16, 1999: Combs and his bodyguards are charged with attacking Interscope Records music executive Steve Stoute in his New York office in a dispute over a music video. Combs is sentenced to an anger management course. Dec. 27, 1999: Combs is arrested on gun possession charges after he and his girlfriend at the time, Jennifer Lopez, fled a shooting that wounded three people at a New York City nightclub. Some witnesses tell police Combs was among the people shooting in the club. He is later charged with offering his driver $50,000 to claim ownership of the 9 mm handgun found in his car. 2001-2008 March 17, 2001: Combs is acquitted of all charges related to the nightclub shooting. One of his rap protégés, Jamal 'Shyne' Barrow, is convicted in the shooting and serves nearly nine years in prison. Two weeks after the trial, Combs announces he wants to be known as P. Diddy. (Barrow also later changed his name, to Moses Barrow, and became a parliamentarian in his native Belize). 2002: Combs becomes the producer and star of 'Making the Band,' a talent search TV show. Feb. 1, 2004: Combs performs at the Super Bowl halftime show along with Janet Jackson, Justin Timberlake and others. A week later, Combs, Nelly and Murphy Lee win a Grammy for best rap performance by a duo or group for 'Shake Ya Tailfeather.' April 2004: Combs makes his Broadway acting debut in 'A Raisin in the Sun.' 2005: Combs announces he is changing his stage name to Diddy, getting rid of the P. March 2008: Combs settles a lawsuit brought by a man who claims Combs punched him after a post-Oscar party outside a Hollywood hotel the previous year. In May, Combs is honored with a star on the Hollywood Walk of Fame. 2015-2022 2015: Combs is arrested after a confrontation on the campus of UCLA, where one of his sons played football. Assault charges are later dropped. 2016: Combs launches a Harlem charter school, the Capital Preparatory School. Also that year, he announces he is donating $1 million to Howard University. 2017: Combs is named the top earner on Forbes' list of the 100 highest-paid celebrities, which says he brought in $130 million in a single year. 2018: Kim Porter, Combs' former girlfriend and the mother of three of his children, dies from pneumonia at age 47. 2022: Combs receives a lifetime honor at the BET Awards. 2023-2025 Sept. 15, 2023: Combs releases 'The Love Album — Off the Grid,' his first solo studio project since 2006's chart-topping 'Press Play.' Nov. 16, 2023: R&B singer Cassie sues Combs, alleging that during their decade-plus as a couple, he subjected her to abuse, including beatings and rape. A day later, the lawsuit is settled under undisclosed terms. Combs, through his attorney, denies the accusations. Nov. 23, 2023: Two more women accuse Combs of sexual abuse in lawsuits. Combs' attorneys call the allegations false. Dozens of additional lawsuits follow by women and men who accuse Combs of rape, sexual assault and other attacks. Plaintiffs include singer Dawn Richard, a 'Making the Band' contestant who alleged years of psychological and physical abuse. Combs denies all the allegations. March 25, 2024: Federal agents search Combs' homes in Los Angeles and Miami Beach, Florida. May 17, 2024: CNN airs video that shows Combs attacking and beating Cassie in a Los Angeles hotel hallway in 2016. Two days later, Combs posts videos on social media apologizing for the assault. Sept. 16, 2024: Combs is arrested at his Manhattan hotel. A federal sex trafficking and racketeering indictment unsealed the next day accuses him of using his business empire to coerce women into participating in sexual performances. Combs denies the allegations. His attorney calls it an unjust prosecution of an 'imperfect person.' May 5, 2025: Jury selection begins for Combs' trial. May 12, 2025: A jury is selected and testimony begins in Combs' trial. June 30, 2025: Jury deliberations begin in Combs' trial. July 2, 2025: The jury convicts Combs of two counts of a prostitution-related offense but acquits him of higher-level charges of racketeering and sex trafficking. The outcome significantly reduces the rap mogul's potential prison sentence, which a judge will determine in the months to come. His lawyers unsuccessfully ask for him to be released on bond in the meantime. Combs is visibly relieved by the verdict, and his lead lawyer calls it 'a victory of all victories.'
Business Wire
26 minutes ago
- Business Wire
AM Best Affirms Credit Ratings of Trisura Group Ltd. Members
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of 'a-' (Excellent) of Trisura Specialty Insurance Company (TSIC), Trisura Insurance Company (TIC), Bricktown Specialty Insurance Company (BSIC) and Trisura Guarantee Insurance Company (TGIC). Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of 'a-' (Excellent) of First Founders Assurance Company (FFAC) (Chester, NJ). The aforementioned companies are subsidiaries of Trisura Group Ltd. (TGL) [TSX: TSU] (Toronto, Ontario, Canada), a non-operating holding company. TSIC, TIC, and BSIC are domiciled in Oklahoma City, OK, while TGIC is domiciled in Toronto, Ontario, Canada. The outlook of these Credit Ratings (ratings) is stable. The ratings reflect TGL's overall balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings acknowledge improvement in TGL's overall balance sheet strength assessment, supported by the strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR). Additionally, the group's capital base has grown significantly over the recent five-year period, driven by several public capital raises and very strong earnings growth, which more than tripled in the recent three-year period. This growth in equity has supported the group's overall growth and its expansion into the admitted U.S. market. While underwriting leverage was previously elevated due to an accelerated growth period, recent moderation in premium growth, combined with capital expansion, has resulted in leverage metrics that closely align with industry norms. Financial flexibility is strong with moderate levels of debt and very strong interest coverage. TGL's operating performance benefits from the diversification in its earnings from fronting fee income, underwriting income and investment income and its business profile recognizes the diversification afforded by its diversified North American footprint, providing specialty insurance in the surety, warranty, corporate insurance, program and fronting business lines. The ratings of FFAC reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate ERM. The ratings acknowledge the significant capital and operational support FFAC receives from TGL and its strategic importance to TGL's U.S. surety operations. In the second quarter of 2024, TGL contributed approximately USD $55 million of capital to FFAC. Furthermore, TGL seeks to continue to expand FFAC's licensing to all 50 states. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
Business Wire
26 minutes ago
- Business Wire
Fresh Del Monte Produce Inc. Clarifies It Is Not Affiliated with Del Monte Foods Inc.
CORAL GABLES, Fla.--(BUSINESS WIRE)-- Fresh Del Monte Produce Inc. (NYSE: FDP) is a fully independent, publicly traded company with no financial or operational affiliation with Del Monte Foods Inc., a separate entity currently involved in litigation and bankruptcy proceedings. The two companies are entirely separate entities, with no shared ownership, governance, or operations. Del Monte Foods Inc. is a privately held U.S. company owned by a parent organization based in Singapore. Fresh Del Monte Produce Inc.'s financial or operational performance is not impacted by that separate, unaffiliated company's announced legal or financial proceedings. While both businesses share rights to the Del Monte® name through historical licensing arrangements, they operate under distinct ownership and serve different geographic markets. Fresh Del Monte continues to operate with full stability and focus. The company remains financially strong, strategically aligned, and committed to delivering long-term value. It will report second quarter 2025 results during its scheduled earnings call on Wednesday, July 30, 2025. Fresh Del Monte is a global leader in fresh and fresh-cut produce: Headquartered in Coral Gables, FL, with operations in over 90 countries. The global leader in pineapple innovation. Owner of the Del Monte® brand for prepared food products in Europe, Africa, and the Middle East. Del Monte Foods Inc. — a different company with no affiliation to Fresh Del Monte — holds the rights to the Del Monte® brand for prepared food products in the U.S. It does not have rights to fresh or fresh-cut fruit. Customers, suppliers, and partners can remain confident in the continuity of Fresh Del Monte's operations and its commitment to delivering high-quality, Del Monte®-branded products, services, and trusted support. For more information about the company's global operations and financial performance, please visit the Investor Relations page. Fresh Del Monte Produce Inc. is one of the world's leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa, and the Middle East. Fresh Del Monte Produce Inc. markets its products worldwide under the DEL MONTE ® brand (under license from Del Monte Foods, Inc.), a symbol of product innovation, quality, freshness, and reliability for over 135 years. The company also markets its products under the MANN ® brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd. Fresh Del Monte Produce Inc. is the first global marketer of fruits and vegetables to commit to the 'Science Based Targets' initiative. In 2022, 2023, and 2024, Fresh Del Monte Produce was ranked as one of 'America's Most Trusted Companies' by Newsweek based on an independent survey rating companies on three different touchpoints, including customer trust, investor trust, and employee trust. The company was also named a Humankind 100 Company for two consecutive years by Humankind Investments, which recognizes companies that substantially impact areas such as access to food and clean water, healthcare, and digital services. Fresh Del Monte has also been awarded the SEAL Business Sustainability Awards four times in the last five years (2021, 2023, 2024, and 2025). Fresh Del Monte Produce Inc. is traded on the NYSE under the symbol FDP.
