Legislative, Regulatory & Legal

Lebanon, Tenn. — Cracker Barrel Old Country Store, Inc has considered and rejected a recent filing and statement from top shareholder Sardar Biglari demanding that the company commence a sale process. Cracker Barrel has determined that the continued execution of the company’s existing business strategy is currently the proper course of action for the long-term best interests of the company and its shareholders.

Minneapolis -- Target Corp. admitted Friday that “strongly encrypted PIN data” was removed during the hacking that compromised some 40 million credit- and debit-card accounts between Nov. 27 and Dec. 15. The retailer said it remains “confident” that customers’ PIN numbers are safe and secure.

Los Angeles – Newegg has filed an opposition to Soverain Software's petition for the Supreme Court to review a January 2013 ruling by the Federal Court of Appeals in the Eastern District of Texas that found Newegg and other e-commerce retailers did not violate a patent on e-commerce shopping cart technology held by Soverain. In district court actions in the Eastern District of Texas, Soverain had obtained settlements and won jury verdicts estimated at more than $70 million.

Washington, D.C. -- Sen. Robert Menendez (D-N.J.) reportedly may seek federal hearings on the recent data breach at Target. According to the Associated Press, Menendez said in a press conference held outside a Jersey City, N.J. Target store that he has also requested the Federal Trade Commission (FTC) to investigate whether it can levy fines against Target and whether laws protecting sensitive consumer data need to be strengthened.

New York – At least four law firms are investigating the pending purchase of The Jones Group. The law office of Brodsky & Smith, LLC, Vincent Wong, Farugi and Farugi, LLP and Robbins Arroyo LLP are investigating potential claims against the board of directors of The Jones Group, Inc. relating to the proposed acquisition by Sycamore Partners.

Compton, Calif. – Numerous law firms have launched investigations into the board of directors of Arden Group, Inc. to determine possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to the investment firm TPG.

For companies across all industries, 2013 brought a number of challenges that significantly impacted supply chains and presented even greater uncertainty around the state of the transportation industry. Shippers were forced to adapt to a slowly recovering economy and increased regulatory mandates, compounded by the continued pressure to cut costs and maintain — if not improve — service performance levels, all while effectively planning for the future.

New York – A Dutch arbitration panel has ordered Tiffany & Co. to pay Swatch damages of about $449.5 million plus interest in a breach of contract case dating back to 2011. The dispute stems from Swatch’s claim that Tiffany failed to honor its obligation to develop and sell Swatch watches under the Tiffany name and split the profits.

Dhaka, Bangladesh – Police in Bangladesh have reportedly filed charges against the owners of a garment factory that was the site of a fatal fire in November 2012 that killed more than 100 workers. Bloomberg reports that Delwar Hossain and his unidentified wife, owners of Tazreen Fashion Ltd, were among 13 people charged with murder and other offenses in connection with the deadly blaze that resulted in 124 deaths.

A Dutch arbitration panel has ordered Tiffany & Co. to pay Swatch damages of about $449.5 million plus interest in a breach of contract case dating back to 2011. The dispute stems from Swatch’s claim that Tiffany failed to honor its obligation to develop and sell Swatch watches under the Tiffany name and split the profits.

The amount is 8.8% of the total damages sought by Swatch. Tiffany will also have to pay about $8.8 million in fees, expenses and other arbitration costs. One arbitrator on the three-arbitrator panel did not rule in favor of Swatch.