GARDEN STATE SEARING: New Jersey officials said Monday that Sears, Roebuck & Co. is one of four companies the state plans to sue for massive pension fund losses. At a press conference, Gov. Jim McGreevey and other state officials said New Jersey will bring a securities class-action lawsuit against the retailer and some of its officers and directors alleging that the defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market between Jan. 17 and Oct. 17. Along with Sears, New Jersey plans to bring suits against Tyco International Ltd., Qwest Communications Inc. and Electronic Data Systems for allegedly causing more than $150 million in state pension system losses. The state’s fund lost more than $6 billion last quarter, and more than $20 billion over the past three years.

ALL EYES ON STELLA: Gucci Group and Safilo Group, the Italian eyewear manufacturer, aren’t wasting time when it comes to developing branded sunglasses. After Bottega Veneta, it’s Stella McCartney’s turn. She will launch an initial sunglass collection comprising six styles, which will bow globally next spring. Details on prices and distribution were not available.

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