The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of J.C. Penney Company

Friday, September 27, 2013

Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of J.C. Penney Company

11:01 EDT Friday, September 27, 2013

SAN DIEGO (Business Wire) -- Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating if a securities violation was committed by J.C. Penney Company, Inc., (NYSE: JCP) when it made specific representations about the company's liquidity and the need to raise cash.

On an August 20, 2013 investor conference call, J.C. Penney's CFO responded when asked about any additional outside liquidity needs, “Certainly as we look through the end of the year, the $1.5 billion of liquidity that we have projected we're not assuming that we need any additional financing.” Other recent statements have been reported by senior management, including the Company's CEO, stating that it did not see conditions for the rest of the year where it would need to raise liquidity.

On September 26, 2013, J.C. Penney announced that it had commenced an underwritten public offering of 84 million shares of its common stock. Based upon the closing price of $10.42 on September 26, 84 million JCP shares would sell for about $875 million.

If you are a J.C. Penney shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ( at 619-230-0063.

Johnson & Weaver, LLP is a nationally recognized shareholders' rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit

Johnson & Weaver, LLP
Jim Baker, 619-230-0063 Ext. 118

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail App

    The New Globe and Mail App for iPhone®, iPad® and Apple Watch download

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Secure Service
Customer Service
Advertising Privacy
Globe Recognition
Mobile Apps
Other Sections