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Legal Proceedings
9 Months Ended
Nov. 02, 2019
Legal Proceedings [Abstract]  
Legal Proceedings

13. Legal Proceedings

Legal proceedings pending against the Company or its consolidated subsidiaries consist of ordinary, routine litigation, including administrative proceedings, incidental to the business of the Company or businesses that have been sold or discontinued by the Company in past years. These legal proceedings include commercial, intellectual property, customer, environmental, and employment-related claims. There is a recently filed purported class action against the Company alleging violation of the Americans with Disabilities Act for failing to sell gift cards that contain writing in braille.

Additionally, the Company and certain officers of the Company were defendants in a purported securities law class action in New York. During the third quarter of 2019, the Court granted the Company’s motion to dismiss the class action and the plaintiffs’ time to appeal has expired. The directors and certain officers of the Company were defendants in related derivative actions filed in federal court. The Court ordered the dismissal of plaintiffs’ complaints following the parties’ submission of a joint stipulation to dismiss. The directors and certain officers of the Company were also defendants in a related derivative action filed in state court. The parties submitted a joint stipulation to dismiss and are awaiting the Court’s approval.

Management does not believe that the outcome of any such legal proceedings pending against the Company or its consolidated subsidiaries, as described above, would have a material adverse effect on the Company’s consolidated financial position, liquidity, or results of operations, taken as a whole, based upon current knowledge and taking into consideration current accruals. Litigation is inherently unpredictable. Judgments could be rendered or settlements made that could adversely affect the Company’s operating results or cash flows in a particular period.