Legislative, Regulatory & Legal

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.

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.

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.

New York -- The Jones Group has accepted a buyout offer of $15 per share in cash, or a total of approximately $1.2 billion, from private equity firm Sycamore Partners. Upon completion of the deal, Jones, whose brands include Nine West, Anne Klein and Easy Spirit, will become a privately held company.

The Jones Group has accepted a buyout offer of $15 per share in cash, or a total of approximately $1.2 billion, from private equity firm Sycamore Partners. Upon completion of the deal, Jones, whose brands include Nine West, Anne Klein and Easy Spirit, will become a privately held company.

Target early Thursday confirmed widespread media reports that it suffered a major data breach that affected as many as 40 million credit and debit card transactions during a period that began the day before Thanksgiving through December 15.