Retail

Matthews, N.C. – A lawsuit filed against Family Dollar by Pipefitters Local No. 636 alleging that Family Dollar violated federal securities laws has been voluntarily dismissed by the plaintiff. Family Dollar had petitioned to have the suit dismissed, but Pipefitters Local No. 636 abandoned its claims before the court made a ruling. Family Dollar said it did not pay any money or make any concessions in relation to the claim being dropped.

New York – Investment firm Starboard Value, a shareholder in Office Depot, is foregoing a preliminary consent solicitation it filed against Office Depot in April in light of an order by the Delaware Chauncery Court for Office Depot to hold its annual meeting. Starboard Value had been pressing Office Depot to hold its annual meeting and commenced a consent solicitation to remove several existing directors in favor of Starboard's nominees.

New York – Former Duane Reade CEO Anthony Cuti and CFO William Tennant failed in an attempt to have their 2010 convictions for securities fraud overturned. The Second U.S. Circuit Court of Appeals in New York upheld a June 2010 federal jury decision to find Cuti and Tennant guilty of providing misleading earnings information to shareholders and private equity group Oak Hill Capital partners, which purchased Duane Reade in 2004, between 2000 and 2004.

Austin, Texas – Digital coupon provider RetailMeNot is expanding into Canada with the launch of its new RetailMeNot.ca site. The site provides Canadian consumers with access to thousands of digital coupons for more than 6,000 retailers doing business in Canada.

Seattle – The New York Court of Appeals has ruled that Starbucks shift supervisors are eligible to share tips left in plastic containers by cash registers with baristas. However, assistant managers are not entitled to share in the tips.

New York – Closing arguments for the lawsuit Macy’s filed against JC Penney and Martha Stewart Living Omnimedia last year are scheduled to commence Aug. 1, according to a report in Reuters. The suit claims a December 2011 agreement to create Martha Stewart boutiques in JC Penney stores violated Macy’s exclusive right to sell Martha Stewart Living products.

Toano Va. – Lumber Liquidators has opened its 300th store. The store, located in Las Vegas, is the company’s third in Nevada and second in Las Vegas. It also features the retailer’s new “store of the future” format that offers an expanded store showroom of approximately 1,600 sq. ft., including a broader assortment of flooring options, moldings and accessories.