Skechers USA Settles All Legal Proceedings Regarding Advertising Claims

Skechers USA Settles All Legal Proceedings Regarding Advertising Claims

(RTTNews.com) – Skechers USA Inc. (SKX) announced that it has settled all domestic legal proceedings relating to advertising claims made in connection with marketing its toning shoe products, including its Shape-ups line of shoes.

Previously, the company said it has been involved in legal proceedings brought by the United States Federal Trade Commission, multiple states Attorneys General and consumer class action lawyers, all investigating whether or alleging that the Company made unsupported advertising claims in connection with marketing its toning shoes.

Earlier, the company said it will pay a one-time settlement of $45 million dollars plus $5 million in class action attorneys fees to settle the domestic advertising matters and related claims on a global basis.

Skechers denied the allegations and believed its advertising was appropriate, but has decided to settle these claims in order to avoid protracted legal proceedings. The one-time settlement is expected to result in substantial net savings for the Company compared to the significant long-term cost of defending against multiple regulatory and civil legal proceedings in numerous jurisdictions, Skechers said.

The company noted that it will not be paying any fines or penalties.

According to the company, the settlement strictly relates to certain advertising and related claims and does not prevent or prohibit Skechers from making and selling the toning shoes, which the company will continue to do.

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Food Revolution Day: New take on the plate

Florida grouper is in peak supply from April to October and is available year-round. Because of groupers high price, it is often a target for substitution. Today at my blog (OrlandoSentinel.com/thedish) check out our primer on identifying grouper and three great recipes to bring one of Floridas favorite catches to the table. But first, lets dish:

Delicious transformations. Saturdays free Food Revolution Day at Winter Parks Urban Farm may seem like a small local event but its part of a global effort to challenge everyone to reconsider how and what they eat.

Schools, clubs, businesses, chefs, restaurants and home cooks across the country are organizing events that demonstrate the positive impact of healthier lifestyles and food choices.


Food & Wine Events: South Bay & Beyond, May 18-23

Wine-tasting dinner. Enjoy Champagne and hors doeuvres as you tour the historic Elliston mansion, then sit down to a five-course dinner with wine pairings. 6:30-9:30 pm May 18. Elliston Vineyards, 463 Kilkare Road, Sunol. $75. 925-862-2377, www.elliston.com.

Uncorked! Wine Festival. Food and wine lovers can enjoy wines from more than 40 top-tier wineries, cooking demonstrations, wine education seminars and entertainment. 1-6 pm May 19. Ghirardelli Square, 900 North Point St., San Francisco. $50. 414-775-5500, www.ghirardellisq.com.

Alice Medrich book signing. Cookbook author Alice Medrich will sign copies of her book, Sinfully Easy Delicious Desserts: Quicker Smarter Recipes, and offer tastings of some of her recipes. 2-4 pm May 19. Purcell Murray Culinary Showroom and Amphitheatre, 185 Park Lane, Brisbane. $35. Reservations required. 415-330-5557, www.purcellmurray.com.

Sweet Homestyle Iraqi. Spend an afternoon with a Culture Kitchen chef learning about the importance of the midday meal in Iraqi culture, then make and eat lunch. 11 am-2 pm May 19. Los Altos Whole Foods Culinary Center, 4800 El Camino Real. $60. 415-689-6642, http://sweethomestyleiraqiwithbaraka-eorg.eventbrite.com.

Asian cooking demo.


Granite City Food & Brewery Completes Sale-Leaseback of Troy, Michigan Location

MINNEAPOLIS, May 16, 2012 (BUSINESS WIRE) –
Granite City Food & Brewery Ltd.(R)

/quotes/zigman/116220/quotes/nls/gcfb GCFB
-6.54%



today
announced the completion of the sale-leaseback of its real property in
Troy, Michigan. The Troy location, which represents the Company’s 27th
Granite City location, opened to the public last week.

Pursuant to the sale-leaseback agreement, the Company sold the Troy
location to Store Master Funding I, LLC, a subsidiary of Store Capital
Acquisitions, LLC, for gross proceeds of $4.0 million. Under the same
agreement, the Company now leases back the Troy location over a 15-year
term.

“As originally planned, we entered into a sale-leaseback transaction for
the Troy property to maintain liquidity for future restaurant expansion
and existing restaurant enhancement,” said Rob Doran, Chief Executive
Officer of Granite City Food & Brewery Ltd. “Store Capital has been a
great partner to work with and we hope to work with them again on future
restaurants.”

About Granite City Food & Brewery

Granite City Food & Brewery Ltd. develops and operates two casual dining
concepts: Granite City Food & Brewery and Cadillac Ranch All American
Bar & Grill(R). Granite City Food & Brewery is a polished casual American
restaurant that features a great dining experience with affordable,
high-quality menu items prepared from made-from-scratch recipes, served
in generous portions. There is a brewery onsite, serving hand-crafted
and micro brews. Granite City opened its first restaurant in 1999 and is
expanding nationwide; there are currently 27 Granite City restaurants in
13 states. Cadillac Ranch restaurants feature freshly prepared,
authentic, All-American cuisine in a fun, dynamic environment. Its
patrons enjoy a warm, Rock N’ Roll inspired atmosphere, with plenty of
room for friends, music and dancing. The Cadillac Ranch menu is diverse
with offerings ranging from homemade meatloaf to pasta dishes, all
freshly prepared using quality ingredients. The Company purchased its
first Cadillac Ranch in November 2011 and has since purchased four
additional Cadillac Ranch restaurants along with its intellectual
property. The Company currently operates five Cadillac Ranch restaurants
in four states. Additional information about Granite City Food & Brewery
can be found at
www.gcfb.com .

Forward-Looking Statements

Certain statements made in this press release of a non-historical
nature constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from
those anticipated. Such factors include, but are not limited to,
changes in economic conditions, changes in consumer preferences or
discretionary consumer spending, a significant change in the performance
of any existing restaurants, our ability to continue funding our
operations and meet our debt service obligations, and the risks and
uncertainties described in our Annual Report on Form 10-K filed with the
Securities and Exchange Commission on March 23, 2012.

SOURCE: Granite City Food & Brewery Ltd.

Granite City Food & Brewery Ltd.
Rob Doran, 952-697-2393
Chief Executive Officer
or
James G. Gilbertson, 952-215-0676
Chief Financial Officer

Copyright Business Wire 2012

/quotes/zigman/116220/quotes/nls/gcfb

Add to portfolio

GCFB

Granite City Food & Brewery Ltd.

US

: U.S.: Nasdaq


$
2.00

-0.14
-6.54%

Volume: 1,710
May 18, 2012 12:05p

P/E RatioN/A
Dividend YieldN/A

Market Cap$15.66 million
Rev. per Employee$35,250

Financial Glossary

Words used in this article:






G8 Summit: Putting Food on the Table Through Investing in Small Farmers

Today, hunger stalks the Sahel and the Horn of Africa, while some parts of the African continent cope with conflict and civil unrest. In other regions — from Bolivia to Pakistan — millions of people are malnourished.

It is against this backdrop that G8 leaders are meeting this week at Camp David. When they gather, we hope that they will take the opportunity to address the global food security crisis which is even wider and deeper than the financial and economic crisis that has been grabbing headlines across the globe.

Italy has long stressed the importance of tackling poverty and hunger and today it is host to the three major U.N .food agencies, the Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD) and the World Food Programme (WFP).

It was in Italy, at the LAquila G8 summit in 2009, that food security and agricultural development were finally put back at the top of the international agenda after decades of neglect during which governments and the international community turned their attention away from agriculture. Now we must make sure that they now stay at the top of the agenda, and that the commitments made at LAquila are fulfilled.

Investing in agriculture in developing countries is the single most effective method of improving food security for the worlds poorest people while also stimulating economic growth. Growth generated by agriculture is at least twice as effective in reducing poverty as growth in other sectors. And there is evidence that every dollar spent on agricultural research produces $9 worth of additional food in developing countries.

More than 95 percent of agricultural holdings in developing countries are less than 10 hectares, and in sub-Saharan Africa about 80 per cent of farmland belongs to, or is cultivated by, smallholders. And experience in developing countries repeatedly shows — in Burkina Faso, China, Ethiopia, India, Thailand, Viet Nam and elsewhere — that smallholders can lead agricultural growth.

In many countries we have seen how successful small and medium-sized farms can transform rural landscapes into vibrant economies, resulting in local demand for locally produced goods and services that also spur non-farm employment in services, agro-processing and small-scale manufacturing. This demand, in turn, leads to a dynamic flow of economic benefits, and the cultivation of new relationships between rural and urban areas.

In order for these small farms to thrive — and to help lead the way to a more successful, profitable agricultural sector — smallholder farmers need better linkages and access to markets, technology and information. They need mechanisms to manage the inherent risks of farming, particularly at a time of exceptionally volatile weather and prices. They need domestic and international investment in rural areas that is sustainable — economically, environmentally and socially. This includes significant improvements in basic infrastructure and services, access to water, and better governance. They need legal empowerment and protection of their rights to the land they farm. And they need support in forming farmers organizations and co-operatives to give them more bargaining power.

When rural small farmers are connected to markets they can sell more and better-quality food at higher prices, eat a more diversified diet, and improve household food and nutrition security. With increased income they can pay for essential medicines, send their children to school and improve their lives. Gender equality is important here as well: we know that giving women equal access to agricultural resources and inputs is one of the most powerful ways of reducing poverty and hunger.

Recognizing small farmers and their organizations as primary stakeholders in development means more than paying lip service to them in global meetings. Truly acting upon this recognition requires genuine collaboration and inclusive processes, which cannot be an afterthought but need to start from the very design of responsible investments in agriculture.

We have high hopes that this years G8 meeting will lead to tangible support for smallholder farmers in sub-Saharan Africa. As the current crisis of hunger and malnutrition in the Sahel shows, we cannot wait. We must act decisively and we must act now. It is our responsibility to make this investment now, for the sake of future generations.

Prof. Andrea Riccardi is Minister for International Cooperation and Integration Policies of the Italian Republic and Dr. Kanayo F. Nwanze is President of the International Fund for Agricultural Development (IFAD), an international financial institution and a specialized UN agency based in Rome.


Legal Fight Over, Wilpon and Mets Get 2013 All-Star Game



City Hall is just a few blocks from the federal courthouse where an acrimonious legal fight raised serious doubts about Fred Wilpon’s ability to hold on as principal owner of the Mets. That uncertainty ended two months ago when he settled the case that threatened his sports and real estate empire.

Enlarge This Image





Shannon Stapleton/Reuters

Mayor Michael R. Bloomberg, Mr. Met (with whom he exchanged a high-four) and the Mets co-owner Fred Wilpon during the announcement that the All-Star Game would be played at Citi Field in 2013.

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    (May 17, 2012)

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On Wilpon’s return to Lower Manhattan on Wednesday, there were no legal issues to discuss or wrap up. Instead, he announced that the Mets would host the 2013 All-Star Game at Citi Field.

He stood with Commissioner Bud Selig and Mayor Michael R. Bloomberg — an unlikely scene if Wilpon had lost at trial in which he and the Mets co-owner Saul Katz were accused by the trustee for the victims of Bernard L. Madoff of turning a blind eye to signs that Madoff was a fraud over their many years of investing with him. Instead, as part of the settlement, the willful blindness claims were dropped.

“I had great faith in the Wilpons,” Selig said, with Mr. Met behind him, “and I was very confident things would work out.” His confidence, he said, had been rewarded.

The news conference was the first public appearance together by Selig and Wilpon since the legal fight ended.

In their ride to City Hall on Wednesday morning, Wilpon said he told Selig, “Now that this case is over — and it’s been very painful, it’s in the rearview mirror — there are no challenges in life for me.”

He added, “I can take any challenge.”

Wilpon, 75, limped slightly into City Hall and carried a cane because of surgery two weeks ago to replace his left hip. He has had an artificial right hip for 21 years.

He disagreed that selecting the Mets to host the 2013 All-Star Game was Selig’s way of saying he believes in the Mets and his family. “I don’t even consider it that way,” he said. “I know Major League Baseball believes in the Wilpons and the Mets.”

The Mets recently repaid M.L.B. the $25 million they borrowed in 2010 out of the money raised by selling limited partnerships in the team.

With a record of 20-16, the Mets are performing better than expected. Attendance is down about 5 percent. and the team may still lose a lot of money this season. But their top player, third baseman David Wright, was hitting .408 going into Wednesday night’s game.

Last year, in a New Yorker article, Wilpon declared that Wright was “not a superstar.”

Asked if he wanted to change his opinion, Wilpon said, “I think he’s playing like a superstar now.”

Selig insisted that awarding the All-Star Game to the Mets was not a favor to a longtime friend and ally — and that announcing Citi Field as the host was not delayed because of the Mets’ financial problems.

Citi Field is the overwhelming reason for awarding the game to the Mets. Since 1991, M.L.B. has staged the All-Star Game at a new ballpark 15 times, the most recent one being Busch Stadium in St. Louis in 2009. This year’s game is being played at the recently renovated Kauffman Stadium in Kansas City, Mo.

The All-Star Game will be returning to New York five years after it was played at Yankee Stadium — an unusually brief time between hosting the event in the same city.

The briefest period was three years: the game was held at Yankee Stadium in 1939 and the Polo Grounds in 1942. Then it was in Chicago at Wrigley Field in 1947 and at Comiskey Park in 1950.

The last time the Mets hosted the game was in 1964, four years after it was played at Yankee Stadium. It was the first season for Shea Stadium.

In that afternoon game at Shea 48 years ago, the National League won, 7-4, on a game-ending home run by Johnny Callison. The crowd of 50,850 watched a game that lasted 2 hours 37 minutes.

In those days, the All-Star Game was a one-day affair, not a five-day extravaganza as it is now.

The July 16, 2013, game in Flushing will be preceded by activities that start the Friday before. It is likely that two events that occurred five years ago will be repeated: the Fan Fest at Jacob K. Javits Convention Center and the parade of All-Stars and Hall of Famers in Chevrolets along Sixth Avenue.


Viacom Resolves Its Legal Dispute With Time Warner Cable

Viacom Inc. (VIAB), owner of the Paramount
film studio and MTV, Nickelodeon and Comedy Central, agreed to
resolve a legal dispute with Time Warner Cable Inc. (TWC), letting
cable customers see its shows on more devices.

“All of Viacom’s programming will now be available to Time
Warner Cable subscribers for in-home viewing via Internet
protocol-enabled devices such as iPads,” the companies said
today in a joint statement posted on Viacom’s website. Time
Warner Cable also will continue to carry Viacom’s Country Music
Television, the companies said.

To contact the reporter on this story:
Nick Turner in New York at
nturner7@bloomberg.net

To contact the editor responsible for this story:
Nick Turner at
nturner7@bloomberg.net


Legal hitch could hit Thomson case

AAP

The Craig Thomson case is unlikely to reach a conclusion before the 2013 election and could even end up in the High Court, an industrial law expert says.

The suggestion coincides with the NSW ALPs declaration that its July state conference will hear details of how much the party paid to cover Mr Thomsons legal fees.

Fair Work Australia (FWA) plans to take Federal Court action against Mr Thomson after an investigation by the industrial tribunal found he misused almost $500,000 in members funds when he was Health Services Union general secretary from 2002.


AIG Declines to Reveal Legal Costs After Sole Investor Request

May 16 (Bloomberg) — American International Group Inc., the insurer majority owned by the US Treasury Department after a 2008 bailout, declined to reveal legal costs in response to the only investor who asked a question at its annual meeting.

I dont believe we go through and identify that as a number that we go public with, Chief Executive Officer Robert Benmosche, 67, told the man who identified himself as an AIG shareholder at the meeting today in New York. We are working very hard to work that list down and we also do very strong competitive bidding on legal costs, so its not a free-for-all. You may think its a feeding frenzy on this company. It is not.

The investor cited the 17-page summary of litigation and investigations in AIGs quarterly filing to the US Securities and Exchange Commission, including regulatory probes and disputes with shareholders, competitors, ex-executives and a former subsidiary. Benmosche has worked to resolve lawsuits as the Treasury winds down its stake.

I can tell you that our legal expenses are coming down dramatically, Benmosche said.

The Treasury has cut its stake in the New York-based insurer to 61 percent from 92 percent in January 2011 through three share sales. The US raised $5.8 billion in the most recent offering on May 6 by selling about 189 million shares for $30.50 apiece. The government needs to divest its stake at an average price of about $28.72 to break even on its investment.

AIG was unchanged at $30.96 at 11:57 am in New York and has gained 33 percent this year.

–With assistance from Zachary Tracer in New York. Editors: Dan Kraut, Steven Crabill

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net.

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net


Awareness Grows for Food Allergies

Nine-year-old Pinehurst resident Ava Wellener has had severe food allergies since she was 18 months old.