JC Penney Sued By Coffee-Press Maker Bodum Group and 2 More Heavily Traded Stocks to Follow
J.C. Penney & Co. (NYSE:JCP): Current price $14.24
Back in November during the Ron Johnson remake, J.C. Penney and the upscale coffee-press manufacturer Bodum Group reached an arrangement through which Penney’s would prominently feature Bodum houseware products and Ordning & Reda office and stationery products, as part of a now-defunct scheme to transform its department stores into collections of “shop in shops.”
But now, Bodum has brought a suit against the historic retailer because the latter was said to have missed the March date to debut the shops, also installing boutiques at fewer stores than initially agreed. The lawsuit was filed August 30 in New York State Supreme Court.