Content about Corporations law

May 6, 2013
Barington CEO to step into Jones Group board

The Jones Group Inc. has nominated chairman and CEO of Barington Capital Group James A. Mitarotonda to stand for election to the board of directors at the company's 2013 annual meeting of stockholders.

NEW YORK — The Jones Group Inc. has nominated chairman and CEO of Barington Capital Group James A. Mitarotonda to stand for election to the board of directors at the company's 2013 annual meeting of stockholders. 

With the addition of Mitarotonda, the Jones board of directors will expand to 11 members, 8 of whom are independent, 10 of whom are non-management and all of whom are annually elected.  

December 17, 2012
Buyout drama extended at Best Buy

February 2013 promises to be an interesting month at Best Buy following the retailer’s decision to extend the timeframe for company founder and former chairman Richard Schulze to submit a potential buyout offer.

February 2013 promises to be an interesting month at Best Buy following the retailer’s decision to extend the timeframe for company founder and former chairman Richard Schulze to submit a potential buyout offer.

Schulze will have the entire month of February to present an offer and then the board will review the offer within 30 days to determine if it is in the best interests of shareholders.

December 5, 2012
Dollar General adds foodie and financial experience to its board

Dollar General has elected Sandy Cochran, president and CEO of Cracker Barrel Old Country Store, to its board of directors, effective December 5.

GOODLETTSVILLE, Tenn. — Dollar General has elected Sandy Cochran, president and CEO of Cracker Barrel Old Country Store, to its board of directors, effective December 5.

“We are excited to add Sandy to the Dollar General board of directors,” said Rick Dreiling, Dollar General’s chairman and CEO. “Sandy’s extensive experience and perspective will provide us with valuable insights as we continue to grow our business. Her expertise will complement our board as we strive to build shareholder value.”

October 5, 2012
Wet Seal saga ends with Clinton Group on top

Wet Seal, just days after encouraging its shareholders to reject efforts by Clinton Group to replace its board of directors, reached an agreement with Clinton Group giving them four spots on its board of directors.

FOOTHILL RANCH, Calif. — Wet Seal, just days after encouraging its shareholders to reject efforts by Clinton Group to replace its board of directors, reached an agreement with Clinton Group giving them four spots on its board of directors.

As part of the settlement agreement, Clinton Group, which beneficially owns approximately 6.9% of Wet Seal common stock, has terminated its consent solicitation. In addition, Jonathan Duskin, Sidney Horn, Hal Kahn and Henry Winterstern have resigned from the board of directors.

May 14, 2012
New chairman named at Best Buy, results of Dunn investigation revealed

A new era is emerging at Best Buy as the company tries to come back from the fallout over disgraced former CEO Brian Dunn and re-establish itself is the dominant player in the CE space.

MINNEAPOLIS — A new era is emerging at Best Buy as the company tries to come back from the fallout over disgraced former CEO Brian Dunn and re-establish itself is the dominant player in the CE space. To that end, the company's board of directors has elected Hatim Tyabji to succeed Richard Schulze as chairman of the company, effective at the conclusion of the annual meeting on June 21. Tyabji, currently chairman of the audit committee, has served as a director of Best Buy since 1998.

May 3, 2012
Major Walmart shareholder urges rejection of key board members at annual meeting

It’s looking like Walmart’s upcoming annual meeting is going to be a bittersweet affair as the company observes its 50th anniversary against the backdrop of an unfolding Mexican bribery scandal and an appeal from a major shareholder this week urging a no vote on five board members.

NEW YORK — It’s looking like Walmart’s upcoming annual meeting is going to be a bittersweet affair as the company observes its 50th anniversary against the backdrop of an unfolding Mexican bribery scandal and an appeal from a major shareholder this week urging a no vote on five board members.

February 27, 2012
ODP, SPLS, TGT among top companies for women's enterprises

Office Depot, Staples and Target were among the companies honored as America's Top Corporations for Women's Business Enterprises.

Office Depot, Staples and Target were among the companies honored as America's Top Corporations for Women's Business Enterprises. Produced by the Women's Business Enterprise National Council (WBENC), this award recognizes corporations for world class programs that level the playing field for women's business enterprises (WBEs) to compete for corporate business, according to the council. 

Other companies honored include:

  • Accenture

  • Alcatel-Lucent

  • Avis Budget Group

January 27, 2012
Lowe's board looks to Dollar General leadership

Lowe’s has announced that Richard Dreiling has joined its board of directors.

MOORESVILLE, N.C. — Lowe’s has announced that Richard Dreiling has joined its board of directors. He will serve on the board’s audit and governance committees. The announcement brings Lowe’s board of directors to 12 members, 11 of whom are independent.

August 1, 2011
Borders looking for value in name

The end of Borders as we know it may be drawing near.

NEW YORK  — The end of Borders as we know it may be drawing near. According to court papers filed with the U.S. Bankruptcy Court in Manhattan, Borders Group is planning to auction off its intellectual property, including the Borders brand name and the Borders.com website, in a move that will enable the brand to live on after liquidation in a limited fashion.

The Sept. 14 auction, which will sell off the logo, trademarks, website, customer lists and other intellectual property, is expected to draw millions of dollars worth of offers.

June 9, 2011
Blake Nordstrom joins Whole Foods Market board

Whole Foods Market announced the addition of Blake W. Nordstrom to the company's board of directors, increasing the size of the board to 12 members. He will serve on the audit committee.

AUSTIN, Texas -- Whole Foods Market announced the addition of Blake W. Nordstrom to the company's board of directors, increasing the size of the board to 12 members. He will serve on the audit committee.

Nordstrom, 50, has been president of Nordstrom since 2000 and has served as a member of the company's board of directors since 2005. 

June 3, 2011
At Home Depot meeting, a variety of voices

Customer service, glue traps and corporate democracy were among the issues on the table at a wide-ranging Home Depot annual shareholders meeting in Atlanta Thursday.

ATLANTA — Customer service, glue traps and corporate democracy were among the issues on the table at a wide-ranging Home Depot annual shareholders meeting in Atlanta Thursday.

 Home Depot’s shareholders approved the company's recommendations for its board of directors and executive pay structure. And it defeated a shareholder proposal regarding shareholder control of corporate political gifts.

April 21, 2011
Walmart says, “thanks, but no thanks,” to shareholder proposals

It has become something of a tradition at Walmart’s annual meeting that shareholders are asked to consider a number of proposals, which the board of directors typically recommends shareholders reject. It appears likely that will be the case again this year when the shareholders’ meeting is held on June 3 and five proposals are on the ballot.

It has become something of a tradition at Walmart’s annual meeting that shareholders are asked to consider a number of proposals, which the board of directors typically recommends shareholders reject. It appears likely that will be the case again this year when the shareholders’ meeting is held on June 3 and five proposals are on the ballot.

March 30, 2011
Drugstore.com shareholders challenge Walgreens’ acquisition

STEVENSON, Md. — The law firm of Brower Piven on Tuesday announced that a class action lawsuit has commenced in the Delaware Chancery Court on behalf of all shareholders of Drugstore.com, alleging violations of state law by the company’s board of directors relating to the proposed acquisition by Walgreens.

The complaint alleged that Drugstore.com's board of directors breached their fiduciary duties by failing to maximize shareholder value, among other things.

March 14, 2011
Blockbuster cleared for sale process, will avoid liquidation

A Manhattan bankruptcy judge on Thursday has cleared the path for Blockbuster to sell itself to a group of hedge funds, preventing the movie rental chain from having to liquidate its assets.

NEW YORK -- A Manhattan bankruptcy judge on Thursday has cleared the path for Blockbuster to sell itself to a group of hedge funds, preventing the movie rental chain from having to liquidate its assets.

Judge Burton R. Lifland has approved procedures for the auction of Blockbuster, with a $290 million initial offer from a group of senior bondholders led by hedge fund Monarch Alternative Capital. 

September 20, 2010
Trans World Entertainment names new director to board

Trans World Entertainment announced that Michael Nahl has been appointed to the company's board of...

June 21, 2010
Dollar Tree announces board changes

Dollar Tree announce that its shareholders have elected Conrad Hall, who had been previously appointed...

June 10, 2010
Target investors approve board declassification

Target announced that its shareholders approved a proposal to declassify its board of directors. As...

May 18, 2010
Cabela's re-elects board nominees

Cabela’s announced today that shareholders re-elected all nine of the nominees to its board of...