Legislative, Regulatory & Legal

Nashville, Tenn. - Harwood Feffer LLP is investigating potential claims against the board of directors of Genesco Inc., concerning whether the board has breached its fiduciary duties to shareholders. On August 29, 2013, Genesco disclosed that it may be forced to restate certain financial statements due to potential violations of generally accepted accounting principles.

New York -- The Kroger Co. will stop providing health insurance benefits for spouses on January 1, 2014, according to a recent agreement with several unions, Indiana Public Media reported.

A second Retailer Owned Food Distributors & Associates (ROFDA) wholesaler is adopting ReposiTrak, a food safety platform.

Powered by Park City Group’s technology, ReposiTrak aims to help manage regulatory, financial and brand risk associated with issues of food safety in the global food supply chain, and remain in compliance with rapidly evolving regulations in the Food Safety Modernization Act.

New York -- A controversial bill requiring Wal-Mart Stores Inc. and other large retailers to pay their employees a "living wage" of at least $12.50 an hour has been sent to District of Columbia Mayor Vincent Gray.   
    
The mayor has 10 business days, starting Tuesday, to either sign or veto the bill, which was passed by the D.C. Council at the beginning of July.

As if competing against Target, Best Buy and Amazon.com isn’t challenging enough, nationwide the fast-food “strike” which took place Thursday offered a glimpse of the type of headline-grabbing, disruptive activities Walmart can expect from its opponents this holiday season.

Walmart will be making a progressing move and extending health insurance benefits to same-sex domestic partners of its U.S. employees starting next year, according to a Reuters report. 

The report stated that the retailer will also offer vision care to its eligible employees and their dependents.

St. Louis – Missouri Attorney General Chris Koster is publicly accusing Walgreens of charging customers more for some products at the cash register than their advertised price in the store aisle. According to Bloomberg, Koster said Missouri will sue Walgreens for false and misleading advertising after a two-month undercover investigation of eight stores in cities including St. Louis, Kansas City and Jefferson City.

Richfield, Minn. -- Best Buy Inc.’s founder and largest shareholder, Richard Schulze, plans to sell off an unspecified portion of his 20% stock holdings in the chain, according to a filing with the Securities and Exchange Commission.  

The move is part of Schulze's “personal long-term strategy for asset diversification and liquidity,” according to the filing, which did not disclose the total number of shares expected to be effected by the sale.