Economic Development

Milwaukee-based law firm Quarles & Brady will pay $26.5 million and Greenberg Traurig will pay $61 million to settle a lawsuit against the two firms that accused them of assisting in an Arizona Ponzi scheme that cost investors $900 million, according to a Reuters report.

Milwaukee-based national CPA and consulting firm Wipfli LLP has launched a turnaround and restructuring services practice to help companies who are in operational or financial distress.

Dallas-based 7-Eleven, Inc. announced it has completed a transaction to acquire 18 Open Pantry convenience store locations in Wisconsin, primarily in the greater Milwaukee and Madison markets.

Waukesha television company The Wellness Network has acquired Germantown health guide publisher HealthStyle Press.

Milwaukee-based Journal Communications Inc. subsidiary Journal Broadcast Group has acquired Tulsa, Okla. Radio stations 106.9 KHTT FM and 92.9 BOB FM from Renda Broadcasting Corp.

Jasmine Johnson has been elected president of the Social Development Foundation, a non-profit that provides funding for the Social Development Commission’s programs and services.

ARI Network Services, a Milwaukee-based provider of software of solutions that connect consumers, dealers, distributors, and manufacturers in selected vertical markets, reported fiscal third quarter net income of $210,000, or 3 cents per share, down from $541,000, or 7 cents per share in the same quarter a year ago.

The Milwaukee office of Baker Tilly Capital, LLC, a mergers and acquisitions advisory firm and subsidiary of Baker Tilly Virchow Krause LLP, has completed the sale of Milwaukee-based Nature's Protein Inc. to J. Strickland Company of Olive Branch, Miss.

Menomonee Falls-based ZBB Energy Corp., a developer of intelligent, renewable energy power platforms, announced the pricing of an underwritten public offering of 31.6 million shares of its common stock at a price to the public of 38 cents per share.