Lakeland Industries News

Ronkonkoma-based Lakeland Industries lost a key round in a legal battle with two former executives in Brazil, where an arbitration panel ruled the protective-clothing manufacturer has to pay the pair $10 million.

RONKONKOMA, NY -- -- 05/14/12 -- Lakeland Industries, Inc. today announced that it has received notice of an unfavorable arbitration award in the arbitration proceeding in Brazil to which it is a party together with its wholly-owned subsidiary, Lakeland Brasil S.A involving the Company and two former officers of Lakeland Brasil.

The Company plans to file on the date hereof a request for clarification of the award in favor of the former officers that may result in a modification of the award.

Usually, I just write about one net-net a month that the Ben Graham Net-Net Newsletter owns in its model portfolio.

The furor in New York against Wal-Mart Stores Inc. continues to grow as politicians pile on the bribery scandal, arguing that the company should not be allowed to open stores in New York City because of its despicable corporate practices.