Content about U.S. Securities and Exchange Commission

September 8, 2014

Chinese e-commerce giant Alibaba Group Holding Ltd. has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) that media reports indicate could be worth as much as $24.3 billion, making it the biggest U.S. initial public offering ever.

New York – Chinese e-commerce giant Alibaba Group Holding Ltd. has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) that media reports indicate could be worth as much as $24.3 billion, making it the biggest U.S. initial public offering ever.

According to Bloomberg, Alibaba is seeking a valuation as high as $162.7 million, in the upper end of the proposed price range and higher than that of any other public Internet company in the U.S. except Google and Facebook.

September 8, 2014

Chinese e-commerce giant Alibaba Group Holding Ltd. has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) that media reports indicate could be worth as much as $24.3 billion, making it the biggest U.S. initial public offering ever.

New York – Chinese e-commerce giant Alibaba Group Holding Ltd. has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) that media reports indicate could be worth as much as $24.3 billion, making it the biggest U.S. initial public offering ever.

According to Bloomberg, Alibaba is seeking a valuation as high as $162.7 million, in the upper end of the proposed price range and higher than that of any other public Internet company in the U.S. except Google and Facebook.

September 3, 2014

Wet Seal Inc. CEO John D. Goodman has resigned as CEO, less than two years after he joined the struggling teen retailer to turn around its business.

Foothill Ranch, Calif. – Wet Seal Inc. CEO John D. Goodman has resigned as CEO, less than two years after he joined the struggling teen retailer to turn around its business.

The company revealed in a regulatory filing Tuesday that Goodman resigned effective Aug. 26 from his post as CEO and a member of the board. Goodman will be succeeded by Edmond Thomas, 61, effective Sept. 8. Thomas previously served as president and CEO of Wet Seal from October 2007 to January 2011.

August 18, 2014

Wayfair filed its paperwork with the U.S. Securities and Exchange Commission on Friday to raise as much as $350 million on the public market.

Boston -- Wayfair filed its paperwork with the U.S. Securities and Exchange Commission on Friday to raise as much as $350 million on the public market.

The Boston-based online homegoods retailer posted a loss last year of $15.5 million, and the loss was $51.4 million in the last six months. Goldman Sachs, Bank of America Merrill Lynch, and Citigroup are leading up the underwriting for the IPO, along with Allen & Co., Pacific Crest Securities, Piper Jaffray, Wells Fargo Securities, Canaccord Genuity, Cowen and Co., and Raymond James.

August 18, 2014

Wayfair filed its paperwork with the U.S. Securities and Exchange Commission on Friday to raise as much as $350 million on the public market.

Boston -- Wayfair filed its paperwork with the U.S. Securities and Exchange Commission on Friday to raise as much as $350 million on the public market.

The Boston-based online homegoods retailer posted a loss last year of $15.5 million, and the loss was $51.4 million in the last six months. Goldman Sachs, Bank of America Merrill Lynch, and Citigroup are leading up the underwriting for the IPO, along with Allen & Co., Pacific Crest Securities, Piper Jaffray, Wells Fargo Securities, Canaccord Genuity, Cowen and Co., and Raymond James.

July 2, 2014

The Securities and Exchange Commission (SEC) is reportedly investigating whether Target Corp. adequately protected its data and informed shareholders about the possible consequences relating to its fall 2013 data breach, according to Bloomberg.

Minneapolis – The Securities and Exchange Commission (SEC) is reportedly investigating whether Target Corp. adequately protected its data and informed shareholders about the possible consequences relating to its fall 2013 data breach, according to Bloomberg. The report said that Target is one of several public companies that suffered a data breach which is being investigated by the SEC.

June 16, 2014

The Securities and Exchange Commission (SEC) has charged four residents of Northern California with insider trading in Ross Stores stock options based on nonpublic information about monthly sales results leaked by one of the retailer’s employees.

Dublin, Calif. – The Securities and Exchange Commission (SEC) has charged four residents of Northern California with insider trading in Ross Stores stock options based on nonpublic information about monthly sales results leaked by one of the retailer’s employees. The SEC alleges that Saleem Khan was routinely tipped by his friend Roshanlal Chaganlal, who was a director in the finance department at Ross headquarters.

May 1, 2014

The recent cyber attacks on Target, Neiman Marcus and Michaels Stores had an immediate and profound impact on sales, as well as a widespread and ongoing ripple effect on consumer confidence in the safety of credit-card information at point-of-sale terminals.

By Jason Fredrickson, Guidance Software

The recent cyber attacks on Target, Neiman Marcus and Michaels Stores had an immediate and profound impact on sales, as well as a widespread and ongoing ripple effect on consumer confidence in the safety of credit-card information at point-of-sale (POS) terminals.

April 25, 2014

The Securities and Exchange Commission has charged a former executive with insider trading in advance of EBay’s acquisition of the e-commerce company GSI Commerce where he worked, by tipping friends and relatives with confidential information about the pending deal so they could attain more than $300,000 in illegal profits.

Washington, D.C. - The Securities and Exchange Commission has charged a former executive with insider trading in advance of EBay’s acquisition of the e-commerce company GSI Commerce where he worked, by tipping friends and relatives with confidential information about the pending deal so they could attain more than $300,000 in illegal profits.

April 8, 2014

CVS Caremark Corp. agreed to pay $20 million to settle U.S. Securities and Exchange Commission charges that it misled investors in 2009 during a debt offering and by accounting improperly for an acquisition.

Woonsocket, R.I. -- CVS Caremark Corp. agreed to pay $20 million to settle U.S. Securities and Exchange Commission charges that it misled investors in 2009 during a debt offering and by accounting improperly for an acquisition.

The SEC said CVS failed to disclose while marketing $1.5 billion of bonds in September 2009 having recently lost significant Medicare and contract revenue streams in its pharmacy benefits manager business.

March 17, 2014

Sears Holdings Corp. said its board has approved the spin on of its Lands’ End business, effective April 4, according to a filing with the U.S. Securities and Exchange Commission.

New York -- Sears Holdings Corp. said its board has approved the spin on of its Lands’ End business, effective April 4, according to a filing with the U.S. Securities and Exchange Commission.
 
The agreement, which was announced in December, will make Lands' End an independent company that will trade on the Nasdaq under the symbol “LE.”

Sears stockholders on record as of March 24 will receive about 0.3 shares of Lands' End common stock for each share of Sears they own.

January 8, 2014

Hess Retail Corporation, a wholly-owned subsidiary of global energy company Hess Corporation, has filed a Form 10 Registration Statement with the U.S. Securities and Exchange Commission.

New York -- Hess Retail Corporation, a wholly-owned subsidiary of global energy company Hess Corporation, has filed a Form 10 Registration Statement with the U.S. Securities and Exchange Commission. The form contains a preliminary information statement about the potential terms and conditions of a spin-off of Hess Retail Corporation to the stockholders of Hess Corporation.

December 6, 2013

Barnes & Noble Inc. said is cooperating with a U.S. Securities and Exchange Commission investigation into its accounting.

New York -- Barnes & Noble Inc. said is cooperating with a U.S. Securities and Exchange Commission investigation into its accounting.

The SEC notified the bookseller Oct. 16 that it was investigating the company's restatement of earnings announced in July.
 
The agency’s New York regional office also said it was looking into a former non-executive employee's allegation that the company improperly allocated certain expenses between its Nook e-reader and retail businesses.

December 6, 2013

Barnes & Noble Inc. said is cooperating with a U.S. Securities and Exchange Commission investigation into its accounting.

New York -- Barnes & Noble Inc. said is cooperating with a U.S. Securities and Exchange Commission investigation into its accounting.

The SEC notified the bookseller Oct. 16 that it was investigating the company's restatement of earnings announced in July.
 
The agency’s New York regional office also said it was looking into a former non-executive employee's allegation that the company improperly allocated certain expenses between its Nook e-reader and retail businesses.

November 11, 2013

While investors put a staggering $18 billion valuation on Twitter at its initial public offering last week, the potential direct-sales value of Twitter and other social networks for large enterprise businesses is potentially even bigger.

By Brian Smith, bsmith@bizbrag.com

October 4, 2013

Twitter has officially filed for an IPO with Securities and Exchange Commission (SEC).

San Francisco – Twitter has officially filed for an IPO with Securities and Exchange Commission (SEC). The social network reported a net loss of $79.4 million, down 38% from the previous year, on revenue of $316.9 million in 2012, a 198% increase from 2011.

In addition, Twitter said in the filing it has 215 million members who send 500 million tweets per day.

September 17, 2013

Private-equity firm Sycamore Partners disclosed through a filing with the U.S. Securities and Exchange Commission on Tuesday that an affiliate, Hummingbird LLC, had taken an 8% stake in Aeropostale.

New York -- Private-equity firm Sycamore Partners disclosed through a filing with the U.S. Securities and Exchange Commission on Tuesday that an affiliate, Hummingbird LLC, had taken an 8% stake in Aeropostale.

Sycamore through its Hummingbird LLC unit, bought about 6.3 million shares of Aeropostale, according to the filing. That would make it the retailer’s fourth-largest shareholder, according to data compiled by Bloomberg.

 

August 22, 2013

Stein Mart Inc. reported that its second-quarter net income increased 48%, helped by higher same-store sales.

Jacksonville, Fla. -- Stein Mart Inc. reported that its second-quarter net income increased 48%, helped by higher same-store sales. The retailer also announced that the SEC is conducting an investigation related to Stein Mart's restatement of prior years' financial statements and its change in its auditors.

For the quarter ended Aug. 3, Stein Mart earned $3.4 million up from $2.3 million in the same quarter of 2012.

Revenue increased 4%, to $291 million from $280.4 million. Same-store sales rose 6.4%.

August 5, 2013

Office Depot has filed a presentation with the Securities and Exchange Commission (SEC), which the retailer says demonstrates the importance of shareholders electing its board’s nominees at the company’s annual meeting on Aug. 21.

Boca Raton, Fla. – Office Depot has filed a presentation with the Securities and Exchange Commission (SEC), which the retailer says demonstrates the importance of shareholders electing its board’s nominees at the company’s annual meeting on Aug. 21.

August 2, 2013

CVS Caremark Corporation has reached an agreement in principle to pay a fine of $20 million to resolve an investigation by the Securities and Exchange Commission into certain public disclosures, securities transactions and aspects of the purchase accounting adjustment related to the October 2008 Longs Drug Stores acquisition the company made during the third and fourth quarters of 2009.

Woonsocket, R.I. – CVS Caremark Corporation has reached an agreement in principle to pay a fine of  $20 million to resolve an investigation by the Securities and Exchange Commission (SEC) into certain public disclosures, securities transactions and aspects of the purchase accounting adjustment related to the October 2008 Longs Drug Stores acquisition the company made during the third and fourth quarters of 2009.

April 22, 2013
A Monday report by Forbes said that former Office Depot COO Mark Begelman has been charged with profiting off confidential information.

New York -- A Monday report by Forbes said that former Office Depot COO 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.

April 10, 2013

In not-so-unexpected news, a regulatory filing with the SEC revealed that J.C. Penney’s new CEO Mike Ullman has resigned from Saks Inc.’s board of directors.

New York -- In not-so-unexpected news, a regulatory filing with the SEC on Wednesday revealed that J.C. Penney’s new CEO Mike Ullman has resigned from Saks Inc.’s board of directors, effective Monday.

Saks has not yet named a replacement for Ullman.

April 2, 2013

The Securities and Exchange Commission said that companies can social media platforms such as Twitter and Facebook to make significant announcements as long as they alert investors about which sites they plan to use for the disclosures.

New York -- The Securities and Exchange Commission on Tuesday said that companies can social media platforms such as Twitter and Facebook to make significant announcements as long as they alert investors about which sites they plan to use for the disclosures.

April 1, 2013

An SEC filing revealed that Sears Holdings Corp. former CEO Louis D’Ambrosio, who stepped down in February citing family health issues, saw his total compensation package shrink nearly 90% from the prior year.

Hoffman Estates, Ill. -- An SEC filing on Thursday revealed that Sears Holdings Corp. former CEO Louis D’Ambrosio, who stepped down in February citing family health issues, saw his total compensation package shrink nearly 90% from the prior year.

According to the proxy statement filed with the Securities and Exchange Commission, Sears said D’Ambrosio's salary rose to $1 million in 2012 from $930,769 in 2011. However, the value of his perks, such as corporate housing and travel, shrank to $278,741 from $852,037 in 2011.
 

March 29, 2013

An SEC filing revealed that the total compensation for CVS Caremark Corp. CEO Larry Merlo jumped 44% last year to $20.3 million.

New York -- An SEC filing on Friday revealed that the total compensation for CVS Caremark Corp. CEO Larry Merlo jumped 44% last year to $20.3 million.

Merlo’s base salary rose slightly but the major increases came from stock and option awards and nonequity incentive-plan compensation.