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Legislative, Regulatory & Legal

  • Buyer interested in American Apparel; board names new chair

    Los Angeles – Change is occurring at American Apparel Inc., and it may be coming from external as well as internal sources. The board of directors of American Apparel has confirmed that it has received an indication of interest to acquire the struggling company for $1.30 to $1.40 per share.    The identity of the potential buyer has not been disclosed, but in a press release American Apparel said it “takes these matters seriously, and will evaluate this proposal in the ordinary course of business. 

  • Judge allows lawsuit vs. Target to continue

    A federal judge has ruled that customers suing Target for last year’s data breach may move forward with their claims.

    U.S. District Judge Paul Magnuson in St. Paul, Minn., dismissed claims by plaintiffs in certain states but largely denied Target's request to toss out the proposed class action lawsuit.

    Magnuson rejected Target's argument that the consumers lacked standing to sue because they could not establish any injury.

  • Judge clears way for Tuesday vote by Family Dollar shareholders

    New York - A Delaware judge has denied a request  to block Tuesday's vote by Family Dollar Stores on a  $8.5 billion take-over bid by Dollar Tree,  saying dissident shareholders "failed to demonstrate a reasonable probability of success on any of their claims."   A shareholder lawsuit had requested a preliminary injunction against the vote until Family Dollar “properly engaged” in talks  with rival Dollar General to “achieve a value-maximizing transaction.”  

  • Walgreens to exit NYSE for Nasdaq

    Deerfield, Ill. - Walgreen Co. intends to apply to list the shares of Walgreens Boots Alliance Inc. common stock on The Nasdaq Stock Market under the ticker symbol “WBA” following the closing of its merger with UK-based pharmacy retailer Alliance Boots. The company will voluntarily withdraw its common stock from listing on both the New York Stock Exchange (NYSE) and the Chicago Stock Exchange (CHX).  

  • Albertson’s and Safeway to sell 146 stores to Haggen

    Boise, Idaho – As part of divestures to receive FTC clearance of their proposed January 2015 merger, AB Acquisitions Inc. (Albertsons) and Safeway Inc. will sell 146 stores to Pacific Northwest grocery chain Haggen. With this acquisition, which remains subject to FTC approval, Haggen will expand from 18 stores with 16 pharmacies to 164 stores with 106 pharmacies.  

  • Dollar General remains engaged with FTC

    Goodlettsville, Tenn. – Dollar General Corp. stated on Dec. 19 that it remains actively engaged in discussions with the Federal Trade Commission (FTC) regarding the extent of potential divestitures that would be required in connection with an acquisition of Family Dollar Stores Inc. Dollar General does not expect to provide any further update prior to the Family Dollar shareholders meeting currently scheduled for Dec. 23, 2014.   

  • EBay will pay at least $35 million in exec severance

    San Jose, Calif. – The New Year is looking very happy for EBay CEO John Donahoe and CFO Bob Swan. In a securities filing, EBay said that Donahoe will get a severance package worth $23 million and Swan will get a severance package worth $12 million when the company spins off its PayPal unit in 2015. Both men said they would leave their positions after the split occurs when EBay first announced the spinoff plan in September.  

  • Walmart unveils new poultry rules

    Walmart is instituting new rules on poultry safety as the company looks to protect customers from foodborne illness.

    Walmart’s enhanced poultry safety measures will require poultry suppliers to achieve prevention-based certification by one of the Global Food Safety Initiative's recognized standards. Walmart said poultry suppliers must implement "holistic controls" from farm to fork; the controls must significantly reduce potential contamination levels, including chicken parts.

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