Legislative, Regulatory & Legal

New York -- J. C. Penney disclosed in a Securities and Exchange Commission filing on Friday that it entered into a Registration Rights Agreement with Bill Ackman’s Pershing Square and its affiliates that gives him an out to completely walk away from the company. Under the deal, Ackman can make up to four requests to Penney to register the sale of his restricted common stock.

"It is paving the way for (Pershing Square) to sell the stock if they choose to do so," Imperial Capital analyst Mary Ross Gilbert said in a Reuters report.

While second quarter sales were less than expected, one area where Walmart exceeded plan was expenses incurred related to Foreign Corrupt Practices Act and compliance matters.

The company said it spent $82 million on efforts in those areas compared to the $65 million to $70 million it though it would spend at the start of the year. Expenses during the first half of the year totaled $155 million.

Washington, D.C. -- The National Retail Federation and the Retail Association of Nevada hosted Rep. Mark Amodei, R-Nev., at a retail roundtable discussion. More than a dozen community retailers and small business owners gathered to address the industry’s challenges and public policy priorities.

The National Retail Federation and the Retail Association of Nevada hosted Rep. Mark Amodei, R-Nev., at a retail roundtable discussion. More than a dozen community retailers and small business owners gathered to address the industry’s challenges and public policy priorities.

As the turmoil with hedge fund manager Bill Ackman winds down at J.C. Penney, another of the company’s investors is making headlines. This time it’s George Soros, who according to regulatory filings, has added two million shares to his current 19.98 million in Penney holdings.

This latest venture makes Soros Fund Management Penney’s second-largest investor — behind Ackman.

New York -- As turmoil continues to surround J.C. Penney, one investor is upping his support of the embattled retailer even as two other large investors leave. Regulatory filings on Wednesday revealed that billionaire investor George Soros has added two million shares to his current 19.98 million in Penney holdings.

The latest investment makes Soros Fund Management Penney’s second-largest investor, behind disgruntled hedge fund manager Bill Ackman.

BOCA RATON, Fla. — Office Depot is extending an olive branch to its largest shareholder, Starboard Value LLP, to settle a dispute about who should serve on the company’s board of directors. 

In a press release, Office Depot said that if CEO Selection Committee members Tom Colligan and Marsha Evans are re-elected, the company would immediately invite to its board of directors any of the three Starboard nominees recommended by proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis who are not elected.

Boca Raton, Fla. -- Office Depot is making a public offer to its largest shareholder, Starboard Value LLP, to settle a dispute about who should serve on its board of directors. In a press release, Office Depot said that if CEO Selection Committee members Tom Colligan and Marsha Evans are re-elected, the company would immediately invite to its board of directors any of the three Starboard nominees recommended by proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis who are not elected.