Content about Clinton Group

October 5, 2012

Wet Seal, just days after encouraging its shareholders to reject efforts by Clinton Group to replace its board of directors, reached an agreement with Clinton Group giving them four spots on its board of directors.

FOOTHILL RANCH, Calif. — Wet Seal, just days after encouraging its shareholders to reject efforts by Clinton Group to replace its board of directors, reached an agreement with Clinton Group giving them four spots on its board of directors.

As part of the settlement agreement, Clinton Group, which beneficially owns approximately 6.9% of Wet Seal common stock, has terminated its consent solicitation. In addition, Jonathan Duskin, Sidney Horn, Hal Kahn and Henry Winterstern have resigned from the board of directors.

October 4, 2012

Teen retailer Wet Seal continues to urge its shareholders to reject efforts by Clinton Group to replace the company’s current experienced directors with Clinton Group’s hand-picked nominees who lack relevant experience.

FOOTHILL RANCH, Calif. — Teen retailer Wet Seal continues to urge its shareholders to reject efforts by Clinton Group to replace the company’s current experienced directors with Clinton Group’s hand-picked nominees who lack relevant experience.

August 24, 2012

As part of its push toward forcing Wet Seal to put itself up for sale, investor Clinton Group has named its own slate of board candidates to replace the existing members.

FOOTHILL RANCH, Calif. — As part of its push toward forcing Wet Seal to put itself up for sale, investor Clinton Group has named its own slate of board candidates to replace the existing members.

Clinton’s candidates include former United Retail Group chief Raphael Benaroya, former chairman and CEO of Charming Shoppes Dorrit Bern, former Aeropostale co-CEO Mindy Meads, former Aeropostale COO John Mills, and investment banker Lynda Davey.

July 25, 2012

Shortly after announcing the firing of its CEO, Wet Seal said it was looking into the possible sale of the company to the Clinton Group.

FOOTHILL RANCH, Calif. — Shortly after announcing the firing of its CEO, Wet Seal said it was looking into the possible sale of the company to the Clinton Group.

Wet Seal received a letter from the Clinton Group on July 23 and issued the following response: