Judge sides with agency in antiscalping suit

Supreme Judicial Court Judge Judith A. Cowin overturned a lower court judge's ruling that Admit One Ticket Agency LLC must publicly identify a key supplier of Boston Red Sox tickets. Admit One is being sued by Dorchester consumer activist Colman Herman for allegedly violating the state's antiscalping law by offering him an $80 Red Sox ticket for $500. Quincy District Court Judge Mark S. Coven had ordered Admit One to publicly identify its source, but Cowin agreed with Admit One that the source's name should be turned over to Herman but kept confidential. Admit One says rivals would poach its supplier if the name was released publicly. Cowin called Coven's ruling an "abuse of discretion." (Bruce Mohl)

Massachusetts security regulators have adopted rules aimed at protecting older investors from harmful financial advice. The regulations, which the Massachusetts Securities Division says are the first of their kind, limit financial advisers' use of credentials indicating an expertise in the financial needs of senior investors. Beginning June 1, advisers can use only senior designations that have been accredited by a nationally recognized agency recognized by the state, the regulators said. (Dow Jones)

Boston Communications Group Inc., the provider of prepaid wireless services that is delaying its quarterly filings, named chief financial officer Joseph Mullaney acting chief executive. Mullaney, 50, takes over from Paul Tobin, who will continue as chairman, Bedford-based Boston Communications said in a securities filing. Boston Communications in a separate filing said it's delaying its quarterly report for the period ended March 31 because it's revising financial statements to correctly account for stock-options grants. It hasn't yet filed its annual report and two quarterly reports for 2006. (Bloomberg)

EnerNoc Inc., a provider of clean energy solutions, raised the price range of its initial public offering to $23 to $25 per share. The company initially priced its offering of roughly 3.8 million shares between $21 and $23 per share. EnerNoc has granted underwriters a 30-day option to buy an additional 562,000 shares. (AP)

THE NATION

Bank of America Corp., the second-biggest US lender, is exploring options for its business that helps companies buy insurance and employee-benefit plans. Banc of America Corporate Insurance Agency LLC, based in Cranford, N.J., employs about 300 associates and handles more than $1 billion of premiums for clients each year. The bank said its securities unit will advise on alternatives. Spokesman Will Wilson declined to comment, including on whether the business is up for sale. Private equity firms have already scooped up two other insurance brokers this year. (Bloomberg)

GateHouse Media Inc., a US publisher of community newspapers, said its first-quarter loss widened because of lower tax benefits than reported earlier. The loss was $6.08 million, or 16 cents a share, Fairport, N.Y.-based GateHouse said. GateHouse didn't change its reported revenue of $95 million. GateHouse listed lower tax benefits in the filing, citing a gain of $2.49 million instead of $3.25 million earlier. In a separate filing, GateHouse said it was reviewing tax computation issues with its accountants. Last year the company acquired more than 100 daily and weekly newspapers around Boston, including Boston Herald publisher Patrick Purcell's Community Newspapers Co. and Enterprise News Media LLC, which owned The Patriot Ledger of Quincy and The Enterprise of Brockton. (Bloomberg)

Hewlett-Packard Co., the world's biggest personal computer maker, said second-quarter profit fell 6.5 percent from a year earlier, when a tax gain boosted earnings. It forecast sales of more than $100 billion this year. Net income dropped to $1.78 billion, or 65 cents a share, from $1.9 billion, or 66 cents, a year earlier, Palo Alto, Calif.-based HP said. Sales rose 13 percent to $25.5 billion in the quarter ended April 30. Excluding some costs, profit was 70 cents a share, topping analysts' estimates for the ninth straight quarter. (Bloomberg)