Corporate Governance

American’s demand for guns outstripped supply during the fourth quarter at Smith & Wesson Holdings, where ramped-up production produced a 37.6% sales increase.

Washington, D.C. – Neil Trautwein, VP and employee benefits policy counsel of the National Retail Federation, told a congressional panel today that retail and chain restaurant companies continue to have serious concerns about the Patient Protection and Affordable Care Act and remain worried by the quickly approaching deadlines for full healthcare reform implementation, anticipated for January 2014.

Toano, Va. – Boston-based class action law firm Block & Leviton said it is investigating claims that Lumber Liquidators Holdings sold floors to consumers with illegal levels of formaldehyde. Independent testing conducted at two different IAS-certified laboratories has reportedly revealed formaldehyde levels as high 0.17 ppm, three-and-a-half times the government mandated maximum emission level, in Mayflower flooring.

New York – Investment firm Starboard Value, a shareholder in Office Depot, is foregoing a preliminary consent solicitation it filed against Office Depot in April in light of an order by the Delaware Chauncery Court for Office Depot to hold its annual meeting. Starboard Value had been pressing Office Depot to hold its annual meeting and commenced a consent solicitation to remove several existing directors in favor of Starboard's nominees.

Men’s Wearhouse founder and ousted executive chairman George Zimmer released an open letter late Wednesday in which he addressed the manner in which the board portrayed him in a statement yesterday.

Zimmer flatly denies the board’s claims that he was an obstinate former CEO, determined to regain absolute control by pushing for the company to go private.

Sales in the convenience store industry advanced 2.7% during 2012, well below a prior year gain of 18.5%, as meaningful economic growth hampered results.

Kansas City, Mo. – Hallmark Cards has named Claire Hughes Johnson, VP at Google, to its board of directors. Johnson, who has been with Google since 2004, currently runs its Google Offers mobile-to-store business and also has led global online sales and the new products and solutions teams, as well as teams responsible for Gmail, Google Wallet and Google Apps. Before Google, Johnson’s experience includes serving as a management consultant.