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A Skechers investor hit the shoe company with a putative stock-drop class action in New York federal court Friday, alleging it overstated its projected sales growth despite knowing that a slowdown at a port would hurt its shipping abilities, ultimately causing shares to fall 31.5 percent.
Singapore gaming and e-commerce startup Sea Ltd. said Friday its initial public offering raised $884 million after shares priced above their forecast range and promptly rose in debut trading, capping a week that saw four IPOs raise more than $2 billion.
The parent company of T.J. Maxx, HomeGoods, Marshalls and Sierra Trading Post and two textile companies were hit with expanded allegations in Massachusetts federal court Friday by shoppers who claim that they inflated the thread count of bedding and linen products to boost profits by making the goods more attractive.
The Patent Trial and Appeal Board on Thursday upheld as valid the asserted claims of two Nike patents for the upper parts of footwear, rejecting Adidas' contentions in the two cases that the patents are obvious.
The U.S. Department of Health and Human Services on Friday said that it should not have to face a $1.5 billion antitrust lawsuit brought against Chicago pharmacies, saying that no claims in the suit even mention the department, according to a filing in Illinois federal court.