Legal
May 19, 2016 at 10:51 am
As you've probably heard by now, President Obama announced the Department of Labor’s final rule updating the overtime regulations for middle-class workers yesterday. While the White House said the ruling is expected to boost wages for workers by $12 billion over the next 10 years, it's not going over well with many business associations, including the…
May 17, 2016 at 9:39 am
A federal judge has dismissed two counts in a lawsuit the Navajo Nation filed against clothing retailer Urban Outfitters Inc. U.S. District Judge Bruce Black in New Mexico says the tribe didn't show that the "Navajo" mark is famous. Black wrote Friday that few courts have found trademarks to qualify as "famous." The legal definition must be…
May 16, 2016 at 10:30 am
L Brands’ lingerie chain Victoria's Secret has settled a copyright infringement suit by Debra MacKinnon, the principal of intimate apparel company Zephyrs and inventor of a kidney-shaped, silicone bra insert. The suit, filed in January in U.S. District Court for the Southern District of New York, said that MacKinnon came up with the idea for the…
May 11, 2016 at 11:11 am
Staples and Office Depot said Tuesday they're scrapping their planned $6.3 billion merger after a federal judge blocked the deal, saying the government had made the case that the combination would likely hurt competition in office supplies. The Federal Trade Commission had sought to block the merger of the last two national office-supply chains. It contended…
May 9, 2016 at 12:12 pm
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May 4, 2016 at 9:45 am
Struggling teen apparel retailer Aeropostale filed for Chapter 11 bankruptcy protection on Wednesday, succumbing to years of losses as shoppers moved on to fast-fashion retailers and online competitors. Aeropostale said it plans to finance its operations during its bankruptcy through a $160 million loan from Crystal Financial LLC combined with operating cash flow, according to a…
May 3, 2016 at 9:48 am
Grocery chain operator Fairway, which has lost money in every quarter since it went public in 2013, filed for Chapter 11 bankruptcy protection on Monday in a New York court. Fairway listed assets in the range of $100 million to $500 million, and liabilities of $100 million to $500 million, according to a court filing. The…
May 2, 2016 at 11:17 am
In a legal battle that could influence existing federal tax policy, South Dakota is suing four big internet retailers to force them to comply with the state’s new remote seller sales tax law. On March 22, South Dakota Gov. Dennis Daugaard signed Senate Bill 106 into law. It requires out-of-state online retailers that sell a minimum…
April 28, 2016 at 11:44 am
Cabela’s will pay $1 million to the U.S. Securities and Exchange Commission to settle claims that the Sidney, Nebraska, retailer’s chief financial officer, Ralph Castner, misled investors regarding the company’s profitability ratios in 2012. The SEC alleged that Cabela’s failed to eliminate from its financial statements an intercompany “fee” that World’s Foremost Bank, the retailer’s wholly…
April 27, 2016 at 10:48 am
Sports Authority won't come out of bankruptcy as an independent company and instead wants to sell off all its holdings. "It has become apparent that the debtors will not reorganize under a plan but instead will pursue a sale," company attorney Robert Klyman told Judge Mary Walrath at a hearing Tuesday in U.S. Bankruptcy Court in…
