The National Retail Federation on Wednesday launched a 60-day lobbying, grassroots and media campaign aimed at ensuring that a new federal law — which is designed to save retailers and their customers more than $1 billion a month by lowering the “swipe fees" banks charge to process debit card transactions — takes effect in late July as scheduled.
GNC Holdings on Wednesday announced the closing of its initial public offering of 25.9 million shares of its Class A common stock at a public offering price of $16 per share. GNC's Class A common stock began trading Friday, April 1, on the New York Stock Exchange under the ticker symbol "GNC."
GNC Holdings on Monday announced, in connection with its previously announced initial public offering, the underwriters have exercised in full their option to purchase from the selling stockholders an additional 3.375 million shares of Class A common stock.
The law firm of Brower Piven on Tuesday announced that a class action lawsuit has commenced in the Delaware Chancery Court on behalf of all shareholders of Drugstore.com, alleging violations of state law by the company’s board of directors relating to the proposed acquisition by Walgreens.
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.
The National Retail Federation said legislation introduced Tuesday to delay swipe fee reform, which is scheduled to go into effect this summer, would block retailers from giving discounts to consumers who use debit cards and would cost merchants and the public more than $1 billion per month.