SHAREHOLDER SUES CHIPOTLE ON SAFETY
A ChipotleMexican Grill shareholder has sued the company and its executives, accusing the Denver- based restaurant chain of misleading investors about its food- safety and qualitycontrol measures.
Susie Ong filed a claim Friday inU. S. District Court in Manhattan seeking class- action status. She accuses the company and CEOs Steve Ells and MontyMoran of making “materially false and misleading statements” and failing to report that “quality controls were not in compliancewith applicable consumer andworkplace safety regulations” and that Chipotle’s “quality controlswere inadequate to safeguard consumer and employee health.”
Nacchio wins $ 14.2 million in lawsuit. Former Qwest Communications
CEO Joe Nacchio won a $ 14.2 million verdict in an insurance case against a Goldman Sachs Group Inc. unit and financial adviser DavidWeinstein, who had helped convict Nacchio of insider trading, according to a lawyer who filed the lawsuit.
Nacchio, 66, was found guilty in 2007 of insider trading and was serving his federal prison term in 2010 when he and his wife, Anne Esker, sued an adviser at Ayco Co., a firm that Goldman Sachs owns.
They claimed they paid a $ 4.5million premium in 2000 for variable life insurance policies that they thought had a death benefit of $ 94.8million, according to papers in state court in Morristown, N. J. TheNacchios canceled that coverage in 2010when they learned thatWeinstein “did not understand” life insurance policies. They paid $ 27 million for newcoverage, which they claimedwas $ 14 million more than should have paid in 2000.
United Airlines fined for violating customer rules B »
washington United Airlines has drawn a $ 2.7 million fine from the government for violating rules aimed at protecting disabled passengers and preventing long tarmac delays.
The Transportation Department said Thursday there was a significant increase in 2014 in disability- related complaints regarding United, such as failing to give disabled passengers prompt service on and off planes.
The department citedUnited operations at Denver International Airport; Houston International Airport; Chicago O’Hare International Airport; Newark ( N. J.) International Airport; andWashington’s Dulles International Airport.
Yahoo said to reconsider sale of Web business. Yahoo is reassessing
whether to spin off its main Internet business and is considering an outright sale, sources said.
Yahoo hasn’t concluded that it has to sell and hasn’t hired a bank to run an official process or contacted potential buyers, said the sources, who asked not to identified because a decision hadn’t been made. Nonetheless, there has been a shift in internal thinking, in part because the company and its advisers now think they need a new plan in light of an expected proxy fight by an activist investor, the sources said.
Toys R Us sales rise over holidays
B new york » Toys R Us reported stronger holiday sales despite intense competition from online retailers such as Amazon. com. The company said Friday that sales at stores open at least a year rose 2 percent from Nov. 2 to Jan. 2, compared with last year’s holiday season.
Volkswagen sales fell 2 percent in 2015 B »
frankfurt, germany German automaker Volkswagen says its global sales fell 2 percent last year as it struggled with a scandal over cars it had rigged to evade U. S. diesel emissions tests. Sales volume dropped to 9.931 million vehicles from 10.14 million the year before.