March 14, 2023
A New York federal judge tossed a derivative investor suit that sought disgorgement of $4.9 million in short-swing profits from a hedge fund that holds shares in 1-800-Flowers, ruling that the plaintiff failed to show he suffered a concrete harm and therefore lacks standing under the U.S. Supreme Court's 2021 TransUnion ruling.
August 22, 2019
A federal judge ordered a large shareholder of 1-800-Flowers to give up $4.9 million it earned from buying and selling company stock, saying the firm did not qualify for exemptions to the U.S. Securities and Exchange Commission's rules barring short-swing trades by company insiders.