Legal

PetSmart's investors have officially approved a buyout of the company by a private equity firm, setting up a payout to stockholders of $83 per share. In December, PetSmart announced it accepted a bid on the company for $8.7 billion. The company expects the transaction to close on March 11. The buyout means PetSmart will become a private company. 

Tiffany & Co. won a Dutch court ruling setting aside a decision by arbitrators who ordered the jewelry chain to pay Swatch Group AG more than 402 million Swiss francs ($419 million) in a dispute over a failed venture. A three-judge panel in Amsterdam ruled in Tiffany's favor Wednesday, the New York-based company said in a U.S. regulatory filing. Swatch and Tiffany became embroiled in a legal battle after the biggest maker of Swiss timepieces alleged the U.S. jeweler blocked development of a partnership to make and sell watches under the Tiffany brand and share the profits.

Sen. Bill Nelson on Wednesday called for a federal investigation of Lumber Liquidators amid allegations that it sold an imported laminate that could pose health risks. The Florida Democrat sent a letter to federal agencies asking them to independently test the company's flooring products. He also sought to discover whether the company made potentially false marketing claims about its product's compliance with safety standards.

A unanimous Supreme Court ruled Tuesday that federal courts can hear a dispute over Colorado's internet tax law. One justice suggested it was time to reconsider the ban on state collection of sales taxes from companies outside their borders. The ruling is a win for business groups that want to challenge the state's so-called "Amazon tax," which requires extensive reporting by out-of-state retailers that don't collect the state's 2.9 percent sales tax from Colorado customers. Online retailers claim Colorado is violating protections for companies doing business in other states.

Two online sellers filed class-action lawsuits against eBay claiming it didn't make it clear that it charged recurring fees for "Good ’Til Canceled listings." On Friday, sellers began receiving notice of a settlement the parties reached in Noll et. al v. eBay Inc. et al. In January, eBay set up a $6.4 million settlement fund. The lawsuit claimed eBay deliberately tricked customers into paying recurring fees for its Good 'Til Canceled listings, which automatically renew every 30 days until the seller cancels the listing or the item is sold.

A New York state appeals court on Thursday revived most of Macy's lawsuit accusing J.C. Penney of interfering improperly with its exclusive merchandising contract with Martha Stewart Living Omnimedia Inc. The 5-0 decision by the Appellate Division in Manhattan restored two claims by Macy's that a lower court judge had dismissed. It also upheld the validity of a third Macy's claim, but said Macy's didn't deserve punitive damages. Thursday's decision is the latest step in an unusual battle over the right to sell home goods from a company named for one of the most famous U.S. names in homemaking.

Longchamp USA Inc., the French luxury brand, filed a trademark infringement lawsuit in New York federal court earlier this month against Bed Bath & Beyond, alleging that it suffered losses in excess of $1 million over the sale of copycat bags sold by Bed Bath & Beyond and Laila Rowe, a self-described accessory store of choice for fashionistas. Capelli New York, a designer and manufacturer of apparel and branded products, is also named as a defendant in the suit, in which Longchamp claims that the defendants ripped off the trademarked look and style of its famed Le Pliage handbag.

Negotiators reached a tentative contract covering West Coast dockworkers on Friday evening, likely ending a protracted labor dispute that snarled international trade at seaports handling about $1 trillion worth of cargo annually. The breakthrough came after nine months of negotiations that turned contentious in the fall, when dockworkers and their employers began blaming each other for problems getting imports to consumers and exports overseas.

The Supreme Court on Wednesday (Feb. 25) will hear the case of a young Muslim woman who says Abercrombie & Fitch illegally denied her a job because she wears a hijab in keeping with her faith. The store argues that company policy used to forbid floor "models" — the company's word for store employees who interact with customers — from wearing caps, and that it was up to Samantha Elauf, 17 at the time of her interview, to make it clear that she needed a religious accommodation.

After nearly five years of legal battles, a federal court has ruled that American Express's merchant agreements violate antitrust laws and has resulted in higher costs for consumers. The lawsuit, filed by the Justice Dept. and attorneys general for more than a dozen states, alleged that so-called "anti-steering" or nondiscrimination provisions of the AmEx merchant agreement prevent merchants in the U.S. from pointing their customers to use other cards — like those on the Visa, MasterCard and Discover networks — that charge lower fees to merchants for each transaction.