Content about Securities and Exchange Commission

April 8, 2014

CVS Caremark announced on Tuesday that it has finalized with the Securities and Exchange Commission a settlement that was previously announced in August 2013.

WOONSOCKET, R.I. — CVS Caremark announced on Tuesday that it has finalized with the Securities and Exchange Commission a settlement that was previously announced in August 2013.

The settlement was entered into on a "no admit or deny basis" and will not require CVS Caremark to restate its earnings for any reporting period. The company stated that the matter is now fully resolved.

January 3, 2014

IMS Health is looking to go public, the healthcare industry research and analytics company said.

DANBURY, Conn. — IMS Health is looking to go public, the healthcare industry research and analytics company said.

IMS, based in Danbury, Conn., said it had filed with the Securities and Exchange Commission for a proposed initial public offering of its common stock, adding that it had not yet determined the number of shares to be offered or the price range of the offering.

January 2, 2014

Beauty company Revlon is exiting its operations in China, which represents about 2% of the company’s net sales, and is eliminating about 1,100 jobs.

NEW YORK — Beauty company Revlon is exiting its operations in China, which represents about 2% of the company’s net sales, and is eliminating about 1,100 jobs.

In the Dec. 30 filing with the Securities and Exchange Commission, Revlon stated that the job cuts, which will take place primarily in China, will include the elimination of about 940 beauty advisers retained indirectly through a third-party agency.
 

December 6, 2013

Sears Holdings is spinning off its clothing business, the parent company of Kmart said.

HOFFMAN ESTATES, Ill. – Sears Holdings is spinning off its clothing business, the parent company of Kmart said Friday.

Sears said it had filed with the Securities and Exchange Commission to spin off Lands' End. The company hopes that separating the management of Sears Holdings and Lands' end will make it easier for the latter to pursue opportunities on its own.

October 4, 2013

A private equity firm that is a major Rite Aid shareholder has exchanged its preferred stocks for common stock, according to a regulatory filing.

CAMP HILL, Pa. – A private equity firm that is a major Rite Aid shareholder has exchanged its preferred stocks for common stock, according to a regulatory filing.

September 26, 2013

CVS Caremark’s board of directors has elected former White House adviser Nancy-Ann DeParle to serve on its board, the company stated in a filing with the Securities and Exchange Commission.

WOONSOCKET, R.I. — CVS Caremark’s board of directors has elected former White House adviser Nancy-Ann DeParle to serve on its board, the company stated in a filing with the Securities and Exchange Commission.

DeParle will be an independent director and will serve on the board’s audit committee, according to the filing.

August 2, 2013

CVS Caremark announced on Friday that it has agreed to a $20 million civil penalty to resolve a previously disclosed investigation by the Securities and Exchange Commission into 2009 public disclosures made by the company, securities transactions and certain aspects of the purchase accounting adjustment related to the October 2008 Longs Drug Stores acquisition.

WOONSOCKET, R.I. — CVS Caremark announced on Friday that it has agreed to a $20 million civil penalty to resolve a previously disclosed investigation by the Securities and Exchange Commission into 2009 public disclosures made by the company, securities transactions and certain aspects of the purchase accounting adjustment related to the October 2008 Longs Drug Stores acquisition.

July 23, 2013

François Coutu has resigned from Rite Aid's board, effective Oct. 31, 2013, Rite Aid said in a filing with the Securities and Exchange Commission.

NEW YORK — François Coutu has resigned from Rite Aid's board, effective Oct. 31, 2013, Rite Aid said in a filing with the Securities and Exchange Commission.

July 18, 2013

In a filing with the Securities and Exchange Commission Wednesday, the Quebec-based pharmacy retailer announced that it would sell 65.4 million shares in Rite Aid at a price of $183.1 million.

NEW YORK — The Jean Coutu Group is selling the last of its shares in Rite Aid Corp., according to a regulatory filing.

In a filing with the Securities and Exchange Commission Wednesday, the Quebec-based pharmacy retailer announced that it would sell 65.4 million shares in Rite Aid at a price of $192.2 million.

June 19, 2013

Revlon’s EVP and CFO, Steve Berns, will resign from the company, effective July 19, the beauty company announced in a filing with the Securities and Exchange Commission.

NEW YORK — Revlon’s EVP and CFO, Steve Berns, will resign from the company, effective July 19, the beauty company announced in a filing with the Securities and Exchange Commission.

Revlon stated Berns’ resignation is not the result of any issue or concern with the company’s accounting, financial reporting or internal control over financial reporting.

Berns is joining Tribune Co., a multimedia company, to serve as EVP and CFO, Revlon stated.

April 18, 2013

Rite Aid board member Michel Coutu has resigned, effective Wednesday, according to a Securities and Exchange Commission filing.

NEW YORK — Rite Aid board member Michel Coutu has resigned, effective Wednesday, according to a Securities and Exchange Commission filing.

Coutu's notification follows an announcement by The Jean Coutu Group Tuesday that it had sold 72.5 million Rite Aid shares, reducing its stake in the company to 11.7%.

In addition, board member and former chairman Mary Sammons notified the company Wednesday that she wouldn't seek reelection as a director at its annual shareholder meeting.

April 16, 2013

The Jean Coutu Group sold 72.5 million of its 178.4 million shares of Rite Aid stock, according to a Securities and Exchange Commission filing Monday and company announcement Tuesday.

NEW YORK — The Jean Coutu Group sold 72.5 million of its 178.4 million shares of Rite Aid stock, according to a Securities and Exchange Commission filing Monday and company announcement Tuesday.

The Canadian retail pharmacy group said it sold the shares for $158.5 million and would record a gain of $49.7 million in its net profit during first quarter 2014. The sale brings Jean Coutu's stake in Rite Aid down to 11.7%, the company said.

April 1, 2013

CVS Caremark elected on March 29 former Johnson & Johnson CEO William Weldon to serve on its board of directors, according to a filing with the Securities and Exchange Commission.

WOONSOCKET, R.I. — CVS Caremark elected on March 29 former Johnson & Johnson CEO William Weldon to serve on its board of directors, according to a filing with the Securities and Exchange Commission.

Weldon is the former chairman of the board and CEO of Johnson & Johnson, having served in those positions from 2002 until his retirement as CEO in April 2012 and his retirement from the board in December 2012. Weldon previously served in a variety of senior executive positions during his 41-year career with J&J.

October 26, 2012

GelStat is primed to grow its OTC remedy business, according to a letter to shareholders and prospective investors released Tuesday.

PALM CITY, Fla. — GelStat is primed to grow its OTC remedy business, according to a letter to shareholders and prospective investors released Tuesday. 

June 29, 2012

Coty has filed to raise as much as $700 million in an initial public offering.

NEW YORK — Coty has filed to raise as much as $700 million in an initial public offering. The filing with the Securities and Exchange Commission comes about a month after the beauty company dropped its bid for Avon because of Avon’s “delay and unwillingness to engage in discussions.”

In the filing, Coty told the SEC that it intends to list the Class A common stock on either the NASDAQ or the New York Stock Exchange under the symbol “COTY.” Coty did not reveal how many shares it plans to sell or their expected price.

May 16, 2012

Concern over rising fuel prices has eclipsed unemployment — the leading worry since 2009 — as the No. 1 factor that keeps retailers up at night, according to a study released by BDO USA on Monday, though the current uptick in consumer spending somewhat alleviates that concern.

CHICAGO — Concern over rising fuel prices has eclipsed unemployment — the leading worry since 2009 — as the No. 1 factor that keeps retailers up at night, according to a study released by BDO USA on Monday, though the current uptick in consumer spending somewhat alleviates that concern. "Despite a dip in April, consumer spending has been improving, and retail executives feel that their strategy adjustments are on point," stated Doug Hart, partner in the Retail and Consumer Products Practice at BDO USA.

March 28, 2012

The Federal Trade Commission's ruling on the Express Scripts and Medco merger may be imminent, Express Scripts noted in a Form 8-K filing to the Securities and Exchange Commission on Wednesday.

ST. LOUIS — The Federal Trade Commission's ruling on the Express Scripts and Medco merger may be imminent, Express Scripts noted in a Form 8-K filing to the Securities and Exchange Commission on Wednesday.

July 5, 2011

Thomas Dowd has been named GNC EVP, chief merchandising officer and general manager, the company announced in a Securities and Exchange Commission filing Friday.

PITTSBURGH — Thomas Dowd has been named GNC EVP, chief merchandising officer and general manager, the company announced in a Securities and Exchange Commission 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 17, 2011

Leonard Green & Partners and CVC Capital Partners said Friday they are making a joint buyout bid worth an undisclosed amount for BJ's Wholesale Club.

NEW YORK — Leonard Green & Partners and CVC Capital Partners said Friday they are making a joint buyout bid worth an undisclosed amount for BJ's Wholesale Club.

The two private equity firms revealed their plans in a Securities and Exchange Commission filing on Friday. The bid price was not disclosed.

In February, BJ's announced it was exploring a sale. In March, Leonard Green already is the chain's larger shareholder, with a 9.3% stake.

May 23, 2011

Kmart parent company 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 a Securities and Exchange Commission filing.

HOFFMAN ESTATES, Ill. — Kmart parent company 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 a Securities and Exchange Commission filing.

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

April 22, 2011

A company that makes tracking technology for retailers and drug companies is making an initial public offering.

SEATTLE — A company that makes tracking technology for retailers and drug companies is making an initial public offering.

Seattle-based Impinj, which makes ultra-high-frequency radio-frequency identification tags, made the announcement Thursday, saying it had filed a registration statement with the Securities and Exchange Commission relating to a proposed IPO.

Impinj’s tags, which are cheaper and smaller than regular RFID tags, are used by retailers to track inventory and by drug companies to keep counterfeit drugs out of the supply chain.

March 29, 2011

One could say that a job with the Food and Drug Administration would be the perfect way to get information about upcoming drug approvals and use it to profit handsomely from buying stock in the companies that manufacture the drugs before the information reaches the public.

WASHINGTON — One could say that a job with the Food and Drug Administration would be the perfect way to get information about upcoming drug approvals and use it to profit handsomely from buying stock in the companies that manufacture the drugs before the information reaches the public.

Of course, the Securities and Exchange Commission would consider that illegal insider trading, as one FDA scientist recently discovered.

March 22, 2011

Private equity firm Leonard Green & Partners is considering an offer to acquire BJ’s Wholesale Club, according to a recent filing with the Securities and Exchange Commission.

NEW YORK — Private equity firm Leonard Green & Partners is considering an offer to acquire BJ’s Wholesale Club, according to a recent filing with the Securities and Exchange Commission.

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

BJ's revealed in February that it was considering putting the company on the sales block.

February 14, 2011

Bankrupt grocer A&P reported in a recent filing with the Securities and Exchange Commission that Brenda Galgano, SVP, CFO and treasurer, will resign, effective March 27.

MONTVALE, N.J. — Bankrupt grocer A&P reported in a recent filing with the Securities and Exchange Commission that Brenda Galgano, SVP, CFO and treasurer, will resign, effective March 27.

According to the filing, Galgano gave her notice on Feb. 10. No additional details on her departure were disclosed.

November 10, 2010

Former Kmart CEO Charles Conaway has agreed to drop his appeal of a $10 million...

HOFFMAN ESTATES, Ill. — Former Kmart CEO Charles Conaway has agreed to drop his appeal of a $10 million fine levied last year by the Securities and Exchange Commission for his role in misleading investors. Conaway, who ran Kmart a decade ago after serving as president of CVS, will pay $5.5 million to settle the charges, according to reports from the Associated Press and other news sources.