An activist investor is calling for the co-founders of Guess to be removed from the board, arguing that sexual-misconduct allegations against one of the Marciano brothers threaten its turnaround efforts
An activist investor is calling for the co-founders of Guess Inc. to be removed from the clothing maker’s board, arguing that sexual-misconduct allegations against one of the men threaten its turnaround efforts.
Legion Partners Asset Management LLC has a roughly 2.5% stake in Guess and has been urging it to remove Paul Marciano and his brother, Maurice Marciano, according to a person familiar with the matter and a letter sent to the company’s board Monday that was viewed by The Wall Street Journal.
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