Content about Clinton, New Jersey

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.