News & Analysis as of

Sears

Kmart Bankruptcy, Part Deux

It’s no secret that Kmart is facing another liquidity crisis. Just over ten years after Sears rescued the discount retailer from bankruptcy in 2006, the pioneer of the “blue light special” is destined for another, and...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Foreclosure stats are a far cry from their heights in the aftermath of the 2008 economic crisis. But the big news in the industry is the rise of party players that were barely a blip on the scene (if around at all) 10 years...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Eddie Lampert’s Sears mega-gamble appears to finally be catching up with him. Or the store, at least. Mr. Lampert, it seems, will come out not as worse for the wear as one might have expected....more

Sears and the Going Concern Footnote

Traditionally, there has been no guidance in US GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote...more

Fourth Circuit Concludes That State Law Claims For Life Insurance Benefits Are Preempted

The Fourth Circuit recently concluded that a Sears employee’s state law claims seeking money damages based on denial of insurance benefits (for failure to submit evidence of insurability questionnaire) was preempted by...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Deutsche Bank and the DOJ have put the finishing touches on the deal to resolve the investigation into DB’s role in its sale of toxic RMBS. The bank will fork over $7.2 billion in total, including a $3.1 billion civil penalty...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Former NJ Senator and Governor Jon Corzine has reached a $5 million settlement with regulators over the collapse of his MF Global firm, which filed bankruptcy in 2011 and lost more than $1 billion in customer investments....more

Your daily dose of financial news - The Brief – 8.30.16

by Robins Kaplan LLP on

And after all the sturm und drang surrounding the Hershey Trust and the Mondelez buyout offer over these past few months . . .  it’s over.  Mondelez announced yesterday that it’s no longer seeking to acquire the Hershey...more

July 2016 Independent Contractor Misclassification and Compliance News Update

by Pepper Hamilton LLP on

Four of the five independent contractor (IC) misclassification cases reported below from July 2016 illustrate how companies continue to fail to structure, document, and implement a business’s IC relationships in a manner that...more

The potential class action: British Columbia Supreme Court keeps door open to certification of wrongful dismissal claim

by DLA Piper on

In Tonn v Sears Canada Inc.1 the British Columbia Supreme Court rejected a plaintiff’s attempt to certify a class action for wrongful dismissal under the Class Proceedings Act2 (“CPA”). However, this was not the end of the...more

Illinois Appellate Court Upholds Finding of Consumer Fraud Act Violation in Sales Tax Overcollection Case

by McDermott Will & Emery on

The Illinois Appellate Court recently affirmed a finding for a plaintiff individual, upholding the circuit court’s conclusion that defendant Sears, Roebuck and Co. (Sears) violated the Consumer Fraud and Deceptive Business...more

“Death by a Thousand Cuts” – Commercial Landlord Liable for Constructive Eviction Based on Cumulative Interference with Tenant’s...

In its recent decision, Sears, Roebuck & Co. v. 69th Street Retail Mall, L.P., 2015 WL 5778622, the Pennsylvania Superior Court affirmed the liability of a commercial landlord on a claim of constructive eviction based on the...more

Deceptive Pricing Class Actions Against Major Retailers on the Rise

by McGuireWoods LLP on

Major retailers recently have faced a spate of class-action complaints alleging that they have engaged in misrepresentations and false advertising through the deceptive use of a marketing strategy known as “price anchoring,”...more

Comcast and its Discontents

by Pierce Atwood LLP on

Shortly after the Supreme Court’s decisions in Wal-Mart Stores, Inc. v. Dukes, 131 S. Ct. 2541 (2011) and AT&T Mobility LLC v. Concepcion, 563 U.S. 321 (2011), I appeared before a federal district judge on a motion to dismiss...more

Stores for Sale! Retailers and Restaurants Spin Off Real Estate

by K&L Gates LLP on

Several major retailers and restaurant chains have recently engaged in a variety of transactions to spin off their real estate and lease it back. Retailers and restaurants are suddenly doing them, or considering them, at an...more

Employee Survives Summary Judgment with Self-Serving Testimony

In Nigro v. Sears, Roebuck and Co., (No. 12-57262, filed 2/25/15, amended 4/10/15) (Nigro), the United States Court of Appeals for the Ninth Circuit held a self-serving declaration can be sufficient to create a genuine issue...more

Pro Se and Ex Rel. Don’t Mix, Even for Attorney Whistleblowers

by Faegre Baker Daniels on

William Verrinder filed a False Claims Act against three of America’s biggest companies—Wal-Mart, Sears and Rite-Aid—claiming they charged Medicare for expired drugs. Since he’s a lawyer himself, he filed pro se. That way he...more

Sears’ New $400 Million Secured Loan: Another Sign of Trouble at the Venerable Retailer?

by Cooley LLP on

Last year, the 112-year old retailer J.C. Penney was regularly in the news – and it was rarely good. The stock was in a free-fall, in the process of dropping from about $20 per share in May 2013 to a low of a little more...more

Ninth Circuit Shows No Affinity for Independent Contractor Status in Delivery Drivers

by BakerHostetler on

Delivering another blow to the independent contractor model, the Ninth Circuit Court of Appeals held this week that furniture delivery drivers for Affinity Logistics were employees under California law, not independent...more

"Supreme Court Punts on Twin No-Injury Washing Machine Class Actions"

Earlier today, the U.S. Supreme Court declined to review decisions upholding class certification in two cases that have garnered increasing scrutiny by the legal community — Butler v. Sears, Roebuck & Co. and Whirlpool Corp....more

Comity and Commonality: A Tale of Two Identical Class Actions Brought By Forum-Shopping Plaintiffs’ Counsel

In Murray v. Sears, Roebuck and Co., No. C 09-5744, 2014 WL 563264 (N.D. Cal. Feb. 12, 2014), the U.S. District Court for the Northern District of California denied a motion for class certification that was practically...more

Moldy Washing Machines at the Supreme Court: A Platform for Further Development of Rule 23?

by BakerHostetler on

Three cases about moldy washing machines currently sit at the U.S. Supreme Court, waiting for their names to be called. The cases are nearly identical consumer products class actions, and they have enormous potential to shape...more

California Court Rejects Managers’ Overtime Misclassification Class Action

Dailey v. Sears, Roebuck & Co., D061055 (March 20, 2013): In a recent decision, the California Court of Appeal affirmed the denial of class certification where there was not a predominant common question on a claim of...more

Employer Beware - Automatic termination policies are illegal. Just ask Sears.

by Partridge Snow & Hahn LLP on

Qualified employees with a disability are entitled to a reasonable accommodation from their employer to enable them to perform the essential functions of their job. One of the most difficult issues employers face is...more

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