Legislative, Regulatory & Legal

Fort Worth, Texas – RadioShack is reportedly asking a bankruptcy court to approve a roughly $160 million bod from Standard General LP that would keep 1,743 stores of the retailer’s roughly 4,000 stores open. According to the Wall Street Journal, the Standard General bid also the backing of the official committee of RadioShack’s unsecured creditors.

By Michael Wippler

We are or should be familiar with the Americans with Disabilities Act’s (“ADA”) requirements for accommodating the physically disabled. Wheelchair ramps, handicap stalls, handicap parking, lifts, and other items designed to assist the physically disabled are commonplace. However, the ADA is much broader than this, and the United States Department of Justice (“DOJ”) and the courts are focusing on making the internet more accessible for the visually impaired.

New York -- There is no let up of bad news for American Apparel. The company’s founder and ousted CEO, Dov Charney, plans to file a lawsuit claiming $40 million in damages related to breaches of his employment contract.

The disclosure came on the heels of news that the Securities and Exchange Commission has opened an investigation into the circumstances surrounding Charney’s departure.

Atlanta – The Home Depot Inc. was reportedly not in full compliance with data security standards when a major data breach began in April 2014. According to the Atlanta Business Chronicle, an investigator working for credit card companies said Home Depot was in compliance with data security standards in 2013, but was still working to obtain compliance certification when the 2014 attack occurred.

New York -- PayPal Inc. has agreed to pay $7.7 million in a deal to settle charges by the U.S. Treasury Department that the electronic payments giant violated numerous sanctions programs against countries that include Iran, Cuba and Sudan, Reuters reported.

The Office of Foreign Assets Control, an agency of the Treasury Department, on Wednesday announced the civil settlement.

New York -- The Securities and Exchange Commission (SEC) rejected a request by Wal-Mart Stores to prevent shareholders from voting on a proposal to elect an independent board chairman at the retailer’s annual meeting in June.

Wal-Mart had argued that the proposal, which was submitted by the International Brotherhood of Teamsters General Fund, should be omitted because it was vague in its standard of independence, according to Reuters. But the SEC rejected the argument.
 

San Jose, Calif. -- EBay Inc. on Monday announced it has appointed two independent directors to its board as it prepares for the spinoff of its payments division, PayPal, in the second half of this year.

Ebay appointed Tony Bates, president of action camera maker GoPro, and Gail McGovern, president and CEO of the American Red Cross, to its board.

New York -- Amazon.com has received preliminary approval from the Federal Aviation Administration to test drone delivery. Although consumers should not expect packages to be dropped on their porches by buzzing unmanned aircraft anytime soon, just getting the OK to test the devices is regarded as a big win for the online retail giant.