Depending on their risk interpretation of the current debt situation of JCPenney under new CEO Mike Ullman.

Saks Inc Stephen Sadove was appointed to the Board of Directors of JC Penney. JC Penney Co said the Chief Executive Officer of Saks Inc, Stephen Sadove, would be joining its board of directors.

JC Penney named Jan Hodges as the new head of its struggling home goods section JC Penney Co Inc. had named an insider to be the new head of its struggling home goods section.

A shareholder at JC Penney sued the struggling retailer over a surprised decision to sell 84 million common stock after assuring its investors that there would be no need to raise capital in the company.

JC Penney shareholder Perry Corp had reduced its stake in the retailer, according to a filing showed on Monday.

JC Penney Co Inc's decision to sell shares caused its stock value to further depreciate. The decision by JC Penney Co to strengthen its cash reserves by the issuance of new USD1 billion in new shares resulted in a decline in its stocks by more than 13% last Friday.

JC Penney is now deep in plans to increase its cash reserves and financial well-being through loans and other means.

Steven Roth resigned from JC Penney's board after his firm Vornado Realty Trust announced selling its 6.1% stake in the retailer, said a Bloomberg report.

Glenview Capital Management LLC had joined Hayman Capital Management LP in raising its stake in retailer JC Penney even after the departure of Bill Ackman last month.

Last Tuesday, Hayman Capital's accumulated stake of 5.2% in struggling retailer JC Penney was disclosed in a US Securities and Exchange regulatory filing.