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Stock Market & Financial Investment News

News Breaks
March 14, 2014
18:54 EDTSHLDSears board approves separation of Lands' End business
Sears Holdings Corporation announced that its board approved the separation of its Lands' End business by means of a pro-rata spin-off transaction. To effect the spin-off, Sears Holdings will distribute all of the outstanding shares of common stock of Lands' End on a pro rata basis to holders of Sears Holdings common stock, except that holders of Sears Holdings' restricted stock that is unvested as of the record date will receive cash awards in lieu of shares. These cash awards will be subject to vesting requirements. The distribution will be made to Sears Holdings' stockholders of record on March 24, the record date for the distribution. The distribution is expected to occur on April 4. In the distribution, Sears Holdings stockholders will receive 0.300795 shares of Lands' End common stock for each share of Sears Holdings common stock. Following the spin-off, Sears Holdings will continue to be listed under the symbol "SHLD," while Lands' End expects to list its common stock on the Nasdaq Capital Market under the symbol "LE." Following the spin-off, Lands' End will be a publicly traded company independent from Sears Holdings, and Sears Holdings will not retain any Lands' End common stock.
News For SHLD From The Last 14 Days
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January 28, 2015
11:03 EDTSHLDSears reduces headcount at corporate locations, Chicago Tribune says
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January 27, 2015
06:06 EDTSHLDSears Holdings volatility increases, shares in tight two-month price range
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January 21, 2015
12:12 EDTSHLDBest Buy, home retailers seen getting biggest bump from Sears demise
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January 20, 2015
12:01 EDTSHLDOverstock.com to appeal patent infringement case
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January 16, 2015
11:04 EDTSHLDFAA proposes $533,000 civil penalty against Sears Holdings
The U.S. Department of Transportationís Federal Aviation Administration proposes a $533,000 civil penalty against Sears Holdings Management Corp. for allegedly violating Hazardous Materials Regulations. The FAA alleges that Sears on Dec. 20, 2012 offered UPS 27 boxes, each containing one DieHard Portable Power Supply that encased a non-spillable battery, for air transportation to various locations in the United States. Workers at the UPS sort facility in Louisville, Ky., discovered six of the corrosive shipments were vibrating and one was warm to the touch. The FAA alleges that Sears failed to package the batteries in accordance with the Hazardous Materials Regulations to prevent unintentional activation. The agency also alleges the shipment was not accompanied by shipping papers to indicate the hazardous nature of its contents, and was not marked or labeled. Additionally, Sears offered the shipment without providing emergency response information and failed to ensure its employees had received required hazardous materials training, the FAA alleges. Sears has 30 days from the receipt of the FAA's enforcement letter to respond to the agency.

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