Brief: Guess Inc Co, Defendants In Stockholder Derivative Lawsuit Brought By Ersri Entered Agreement Of Settlement

Guess?

29/09/2023 22:55

Sept 29 (Reuters) - Guess? Inc  GES.N :
    * GUESS INC: CO, DEFENDANTS IN STOCKHOLDER DERIVATIVE
LAWSUIT
BROUGHT BY ERSRI ENTERED AGREEMENT OF SETTLEMENT - SEC FILING
    * GUESS INC: ERSRI STIPULATION WAS FILED WITH COURT OF
CHANCERY OF
STATE OF DELAWARE ON SEPTEMBER 29, 2023
    * GUESS INC: PURSUANT TO STIPULATION DEFENDANTS IN ERSRI
ACTION
WILL CAUSE COMPANY TO RECEIVE A PAYMENT OF $22 MILLION UPON
COURT APPROVAL
    * GUESS INC: PURSUANT TO STIPULATION DEFENDANTS IN ERSRI
ACTION
WILL CAUSE COMPANY TO RECEIVE RIGHT TO RECEIVE AN ADDITIONAL
CONTIGENT PAYMENT OF $8 MILLION
    * GUESS INC: IN CONNECTION WITH ITS APPROVAL OF STIPULATION,
BOARD
ALSO APPROVED RESOLUTIONS TO TERMINATE EXISTENCE OF DEMAND
REVIEW COMMITTEE
    * GUESS INC: BELIEVES THIS SETTLEMENT IS A POSITIVE STEP
FORWARD
FOR BOTH COMPANY AND ITS STAKEHOLDERS


Further company coverage:  GES.N 

 ((Reuters.Briefs@thomsonreuters.com;))