Deals Rumor Mill: Ackman, JC Penney, Neiman Marcus

Law360, New York (August 12, 2013, 4:46 PM EDT) -- Activist investor Bill Ackman, who sits on J.C. Penney Co.'s board, is under fire from his fellow directors after sending a pair of public letters last week that took aim at the sputtering retailer's leadership and pressed for the ouster of its chairman, the Wall Street Journal reported on Sunday. The board met over the weekend to discuss potential ramifications of Ackman going public with his letters, which detailed confidential boardroom talks. It has remained unclear whether Ackman — well-known for his sharp-tongued critiques of company...
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