Ackman's Resignation from JCPenney (JCP) Came from Disagreements with Board
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Ackman Did What Was Best for J.C. Penney (JCP) Board - Questrom; Company Needs More Equity
August 13, 2013 11:34 AM EDTCNBC's Scott Wapner reports that Allen Questrom said Bill Ackman did what was best for J.C. Penney (NYSE: JCP) board. Questrom also said he is not really interested in coming back to JC Penney (NYSE:... More
Ackman's Pershing Square Down $700M on JCPenney (JCP) Investment - Bloomberg
August 13, 2013 10:27 AM EDTAccording to Bloomberg headlines, Bill Ackman's Pershing Square has losses of about $700 million on its JCPenney (NYSE: JCP) investment. Of the total, paper losses are $500 million with partial swap losses of about $200 million.
Earlier on the session, Ackman agreed to resign from... More
J.C. Penney (JCP) Cracks; Down 3% on Ackman Resignation
August 13, 2013 9:57 AM EDTJ.C. Penney Co., Inc. (NYSE: JCP) is starting to break-down as investors digest news that Bill Ackman is resigning from the board. Many believe he is now a seller of the stock. Earlier reports suggest he may not be able to sell until after... More
Ackman Resigns From J. C. Penney (JCP) Board; Support for Ullman Reaffirmed
August 13, 2013 6:31 AM EDTJ. C. Penney Company, Inc. (NYSE: JCP) announced a series of actions related to its Board of Directors. First, William A. Ackman of Pershing Square Capital Management has resigned from the Board effective Aug. 12, 2013.
The Company also announced that Ronald W. Tysoe, a highly respected retail industry executive who spent 16 years as Vice Chairman at Federated Department Stores Inc. (now Macy's, Inc.), has been elected to the Board also effective Aug. 12, 2013. In addition, the Board said that it intends to name another highly qualified new director in the near future.
... More
