Content about U.S. Securities and Exchange Commission

April 23, 2013
Former retail exec Begelman charged with insider trading

A Monday report by Forbes said that former retail executive Mark Begelman has been charged with profiting off confidential information.

NEW YORK — A Monday report by Forbes said that former retail executive Mark Begelman has been charged with profiting off confidential information.

The SEC leveed insider trading charges against Begelman for allegedly using confidential information for his own gain, concerning the upcoming acquisition of Bluegreen Corp. by BFC Financial Corp. Begelman was COO for Office Depot, but left the company in 1995 to found Markee Recording and Rehearsal, a company geared toward musicians. 

March 27, 2013
Wal-Mart: Loss from bribery probe likely

Wal-Mart Stores Inc. revealed in a Tuesday SEC filing that it will most likely incur a loss from bribery probes into its operations in Mexico and other countries.

Bentonville, Ark. -- Wal-Mart Stores Inc. revealed in a Tuesday SEC filing that it will most likely incur a loss from bribery probes into its operations in Mexico and other countries.

According to the filing, Wal-Mart said it expects to incur costs beyond the $157 million it spent on the probes in 2013, but didn’t elaborate on the amount or the size of the potential loss.

March 11, 2013
GE names ex-SEC head to board

The board of directors of the General Electric Company nominated former Securities and Exchange Commission chairman Mary Schapiro to serve on its board.

The board of directors of the General Electric Company nominated former Securities and Exchange Commission chairman Mary Schapiro to serve on its board.

Schapiro will stand for election at GE’s annual meeting on April 24, the company said.

November 15, 2012
What a mess: Walmart’s incredible expanding corruption investigation

Walmart had as much to say about an ongoing and expanding investigation into alleged violations of the U.S. Foreign Corrupt Practices Act in its third quarter filing with the Securities and Exchange Commission as it did about its actual financial results.

Walmart had as much to say about an ongoing and expanding investigation into alleged violations of the U.S. Foreign Corrupt Practices Act in its third quarter filing with the Securities and Exchange Commission as it did about its actual financial results.

June 1, 2012
Sears Holdings files for partial spin off of its interest in Sears Canada

Sears Holdings announced that Sears Canada has filed a Registration Statement on Form 20-F with the U.S. SEC in connection with the company’s previously announced plan to spin-off a portion of its interest in Sears Canada.

HOFFMAN ESTATES, Ill. — Sears Holdings announced that Sears Canada has filed a Registration Statement on Form 20-F with the U.S. SEC in connection with the company’s previously announced plan to spin-off a portion of its interest in Sears Canada.

March 30, 2012
Michaels crafts an IPO

After much speculation, Michaels Stores Friday confirmed that it is has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock.

IRVING, Texas — After much speculation, Michaels Stores Friday confirmed that it is has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. According to the filing, the company proposed to raise $500 million in the IPO. The number of shares to be sold and the price range for the proposed offering have not yet been determined.

September 9, 2011
Kohl’s delays quarterly filing

Kohl’s said it has notified the U.S. Securities and Exchange Commission that it is delaying filing its second quarter filing as its deals with previously reported errors in its accounting for both store and equipment leases.

New York City -- Kohl’s said it has notified the U.S. Securities and Exchange Commission that it is delaying filing its second quarter filing as its deals with previously reported errors in its accounting for both store and equipment leases. 

As a result of these and other less significant accounting corrections, Kohl's expects to record additional property and financing obligations on its balance sheet. The company said it doesn't expect the corrections to have an impact on the net increase or decrease in cash and cash equivalents reported.

July 5, 2011
Thomas Dowd steps in as GNC's chief merchandising officer

Thomas Dowd has been named GNC EVP, chief merchandising officer and general manager, the company announced in an SEC filing Friday.

PITTSBURGH — Thomas Dowd has been named GNC EVP, chief merchandising officer and general manager, the company announced in an SEC filing Friday.

Dowd has served as EVP store operations and development since April 2007.

The move follows the announcement in June that Beth Kaplan would be stepping down from her role as GNC president and chief merchandising officer. Following that announcement, GNC CEO Joe Fortunato reassumed his role of president.

June 7, 2011
Borders EVP, chief merchant resigns

Borders Group executive VP and chief merchandising officer Michele Cloutier has resigned, Borders said in a late afternoon Friday filing with the U.S. Securities and Exchange Commission.

ANN ARBOR, Mich. -- Borders Group executive VP and chief merchandising officer Michele Cloutier has resigned, Borders said in a late afternoon Friday filing with the U.S. Securities and Exchange Commission.

It is the latest in a string of high-level departures from the bookseller as it struggles to emerge from bankruptcy protection.

On Thursday, the company received a deadline extension until mid-October to file a plan to restructure. An attorney for Borders said parts of the company could be sold in as quickly as two weeks.

June 7, 2011
Borders EVP, chief merchant resigns

Borders Group executive VP and chief merchandising officer Michele Cloutier has resigned, Borders said in a late afternoon Friday filing with the U.S. Securities and Exchange Commission.

ANN ARBOR, Mich. -- Borders Group executive VP and chief merchandising officer Michele Cloutier has resigned, Borders said in a late afternoon Friday filing with the U.S. Securities and Exchange Commission.

It is the latest in a string of high-level departures from the bookseller as it struggles to emerge from bankruptcy protection.

On Thursday, the company received a deadline extension until mid-October to file a plan to restructure. An attorney for Borders said parts of the company could be sold in as quickly as two weeks.

May 23, 2011
Sears CFO calls it quits

Sears Holdings has named William Phelan as acting CFO, replacing Michael Collins, currently SVP and CFO, who resigned last week to pursue another opportunity, the company reported in an SEC filing.

HOFFMAN ESTATES, Ill. — Sears Holdings has named William Phelan as acting CFO, replacing Michael Collins, currently SVP and CFO, who resigned last week to pursue another opportunity, the company reported in an SEC filing.

Collins will remain with the company until June 10 in order to ensure a smooth transition, Sears noted in the filing.

May 9, 2011
CVS Caremark discloses SEC inquiry

CVS Caremark Corp. is disclosing another government inquiry into its business, as the company said the Securities and Exchange Commission has requested documents related to its Caremark pharmacy benefits management unit, the Associated Press reported.

NEW YORK — CVS Caremark Corp. is disclosing another government inquiry into its business, as the company said the Securities and Exchange Commission has requested documents related to its Caremark pharmacy benefits management unit, the Associated Press reported.

The company said it received a subpoena from the SEC on Feb. 28.

The agency asked for corporate records on several issues, including public disclosures in 2009 related to pharmacy benefits management and its Medicare Part D prescription-drug benefit businesses.

April 15, 2011
Zale cleared by SEC

Zale Corp. announced Friday that it has been cleared by the Securities and Exchange Commission in its investigation and that the SEC will not take any action against the company.

DALLAS -- Zale Corp. announced Friday that it has been cleared by the Securities and Exchange Commission in its investigation and that the SEC will not take any action against the company.

The SEC began investigating the jeweler in October 2009 after it restated its 2008 and 2009 earnings. The company said at the time that a financial audit had uncovered internal control and accounting issues related to advertising costs, income taxes and internal company payments, among other things.

March 31, 2011
We might lose and don’t know what it will cost

Walmart this week filed its annual report on form 10-K with the Securities and Exchange Commission, and in keeping with good disclosure practices around risk factors the company offered an update on the sex discrimination case that has been all over the news.

Walmart this week filed its annual report on form 10-K with the Securities and Exchange Commission, and in keeping with good disclosure practices around risk factors the company offered an update on the sex discrimination case that has been all over the news.

March 22, 2011
Leonard Green firm evaluating BJ’s takeover

Information on Tuesday confirmed that private equity firm Leonard Green & Partners LP is considering an offer to acquire BJ’s Wholesale Club.

NEW YORK -- Leonard Green & Partners continues to seek investments in retail, this time setting its sights on BJ's Wholesale Club. Information on Tuesday confirmed that the private equity firm is considering an offer to acquire the warehouse club chain.

Leonard Green, which already as a 9.3% ownership stake in the wholesale club operator, said in an SEC filing that it is examining confidential information provided by BJ's as it evaluates an offer.

January 18, 2011
Apple chief out on medical leave

Steve Jobs, CEO of Apple Inc., has taken a medical leave of absence, Apple announced Monday.

CUPERTINO, Calif. -- Steve Jobs, CEO of Apple Inc., has taken a medical leave of absence, Apple announced Monday.

According to an SEC filing, Jobs will remain involved in major strategic decisions during this leave of absence, and COO Tim Cook will be responsible for Apple's day-to-day operations. 

In a letter to company employees, Jobs wrote, "I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy."

November 29, 2010
Report: Wal-Mart in Japan insider trading probe

A report released Tuesday said that Japanese prosecutors will launch an investigation into possible insider...

September 21, 2010
A&P names new director

A&P has announced the election of Thomas Casey to the company’s board of directors ......