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August 13, 2013 |

William Ackman Resigns From JC Penney Board

William Ackman has resigned from J.C. Penney Co.'s board as part of a deal to resolve an unusually public battle between the activist investor and the struggling department store operator.
2 minute read
August 22, 2013 |

JC Penney Adopts 'Poison Pill' to Prevent Takeover Attempt

Struggling retailer J.C. Penney is adopting a plan to prevent a takeover attempt just two days after reporting its sixth straight quarter of big losses and steep revenue declines.
1 minute read
April 30, 2013 |

JC Penney To Get $1.75 Billion In Financing

J.C. Penney confirmed that Goldman Sachs will provide it with $1.75 billion in financing. The five-year senior secured term loan can be used to fund the company's operations as well as pay off some of its debt. It will be secured by real estate, as well as the company's other assets.
1 minute read
February 28, 2013 |

J.C. Penney's lowest sales in decades show CEO stumbling

J.C. Penney Co. chief executive officer Ron Johnson is facing mounting pressure after the first year of his turnaround plan resulted in the department-store company's lowest annual sales in more than two decades.
6 minute read
April 09, 2013 |

With J.C. Penney's CEO gone, company sale may be next

J.C. Penney Co. made a radical break with tradition by hiring Silicon Valley wunderkind Ron Johnson as chief executive officer. With Johnson gone, the chain may have to pursue even more radical options, such as selling itself.
6 minute read
Law Journal Press | Digital Book Representing High-Tech Companies Authors: Gary M. Lawrence, Carl Baranowski View this Book

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August 21, 2013 |

When Feuds Break Out, GC Must Be A Buffer With 'A Laser Focus'

While it is rare for a member of a company's board of directors to go rogue—as J.C. Penney Co. Inc.'s just-resigned William Ackman did—it does happen occasionally. Companies—and their general counsel—need to plan for it as they do any other crisis management moment, experts say.
3 minute read
May 06, 2013 |

J.C. Penney Reluctant To Pay 145-Cent Bond Ransom

J.C. Penney Co. is struggling to unshackle itself from $254 million of bonds that can limit its ability to borrow more money as it seeks financing to alleviate the department-store industry's biggest cash deficit.
6 minute read
September 04, 2013 |

Am Law 100 Trio Helps J.C. Penney Dress for Success

Skadden, Kirkland & Ellis, and Davis Polk have advised on a deal that sees Pershing Square Capital Management's William Ackman unload his roughly 18 percent stake in struggling retailer J.C. Penney, which has secured investments from rival hedge fund managers.
5 minute read
April 18, 2013 |

Penney gets some reprieve in Martha Stewart case

A New York appeals court judge is allowing J.C. Penney Co. to sell a new line of home goods designed by Martha Stewart while an appeal by Macy's is pending.
3 minute read
March 21, 2013 |

J.C. Penney high-flying executives seen hampering CEO revamp

J.C. Penney chief executive officer Ron Johnson, who is struggling to overhaul the department-store company, risks making his task harder by hiring at least nine key executives who live a plane ride away. The company pays for the commutes.
5 minute read

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