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Stock Market & Financial Investment News

News Breaks
February 11, 2013
08:18 EDTRLD, WSMRealD appoints Williams-Sonoma CEO Laura J. Alber to board of directors
News For RLD;WSM From The Last 14 Days
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October 31, 2014
06:07 EDTWSMWilliams-Sonoma to pay $700,000 penalty for faulty shades
The U.S. Consumer Product Safety Commission announced that Williams-Sonoma has agreed to pay a $700,000 civil penalty. The agreement resolves CPSC staff’s charges that the firm knowingly failed to report to CPSC immediately, as required by federal law, a defect involving Pottery Barn Kids Roman shades with exposed inner cords. Williams-Sonoma sold the Roman shades nationwide, through its Pottery Barn Kids brand, between January 2003 and November 2007, for $30 to $60. CPSC staff charged that the Pottery Barn Kids Roman shades posed a strangulation hazard to young children. By the time that Williams-Sonoma filed its full report with CPSC, seven consumers had reported that children had become entangled on the inner cords of the Pottery Barn Kids Roman shades. Williams-Sonoma ultimately recalled approximately 85,000 of the Roman shades in cooperation with CPSC. Williams-Sonoma has agreed to continue to maintain the compliance program and system of internal controls referenced in an earlier civil penalty settlement with CPSC, designed to ensure compliance with the safety statutes and regulations enforced by the Commission. In agreeing to the settlement, Williams-Sonoma neither admits nor denies CPSC staff’s charges.
October 29, 2014
17:39 EDTRLDStarboard Value sends disapproving letter to board of RealD
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12:39 EDTRLDStarboard urges RealD to 'immediately engage' about $12 per share bid
Starboard Value, one of the largest shareholders of RealD with beneficial ownership of approximately 9.9% of the outstanding common stock of the company, announced that it has delivered a letter to the company's CEO and board of directors. In the letter, Starboard Value stated in part: "Four weeks ago today, Starboard Value LP, together with its affiliates, submitted a non-binding indication of interest to purchase all of the outstanding shares of RealD that we do not currently own at a price of $12.00 per share in cash...Unfortunately, despite multiple attempts to engage constructively with you to discuss our Proposal, to date you have neither provided us with any meaningful feedback, nor shown any willingness to engage with us, regarding our Proposal...Not a single shareholder we have heard from is in favor of you simply ignoring our Proposal and going back to business as usual. Further, many shareholders believe that the best course of action for the Company is to undertake a robust exploration of strategic alternatives to maximize shareholder value, including a sale of the Company. You should make no mistake about our sincere desire and ability to own RealD and, if necessary, our willingness to participate in a competitive process to buy the Company. We strongly urge you and the Board of Directors to reconsider your uncooperative approach, and instead immediately engage with us to explore the Proposal and negotiate a transaction."

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