Liz Claiborne Ducks Suit Over Macy’s, JC Penney Claims

Law360, New York (September 29, 2011, 7:29 PM EDT) -- A New York federal judge on Thursday tossed a putative shareholder class action accusing Liz Claiborne Inc. of misrepresenting its relationship with Macy's Inc. and J.C. Penney Co., saying the plaintiffs had offered no evidence showing that Claiborne executives intended to mislead the public.

In dismissing the case with prejudice, U.S. District Judge Richard Holwell said the shareholders had failed to connect the allegedly fraudulent statements made by former Liz Claiborne President Trudy Sullivan and CEO William McComb — portraying relations between the companies as positive...
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