After a nasty dust-up between an activist investor and the cofounders of Guess Inc., brothers Paul and Maurice Marciano have kept their seats on the company’s board of directors.
The investor group maintained that Maurice Marciano “appeared to turn a blind eye as the former chairman of the board and the company spent nearly $1 million on settlements with alleged victims.”
Legion Partners has maintained that models hesitated to work with Guess and that customers didn’t wantto shop at Guess because of the sexual harassment claims. In addition, the investor group claimed there was a “stock discount” due to allegations made againstAfter the shareholder vote, Legion Partners pointed out that 83 percent of the non-insider shareholders voted not to retain Paul Marciano. The Marciano brothers own about 41 percent of the company stock.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Guess founder, accused repeatedly of sexual misconduct, holds on to board seat in contentious voteAn activist hedge fund's proxy campaign to drive Paul Marciano off the board of the L.A. apparel firm failed — but the battle is expected to continue.
Les mer »
Guess Who This Sweet Tot Turned Into!This wavy haired gal started her career modeling for brands like Valentino and Chanel. Once her acting career took off, she scored a role in 'Once Upon A Time In Hollywood.' Can you guess who she is?
Les mer »
Guess founder, accused repeatedly of sexual misconduct, holds on to board seat in contentious voteAn activist hedge fund's proxy campaign to drive Paul Marciano off the board of the L.A. apparel firm failed — but the battle is expected to continue.
Les mer »
38 Celebs That Need To Go Toe-To-Toe In A Verzuz BattleWho would win in these Verzuz battles?
Les mer »