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Wet Seal Announces Resignation of 4 Directors, Replaced by 4 Clinton Group Nominees

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FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--

The Wet Seal, Inc. (NASDAQ: WTSLA) today announced that it has reached an agreement on a
complete settlement of all issues related to Clinton Group's consent
solicitation.

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.

Under the terms of the settlement agreement, Wet Seal has added as new
Directors four of Clinton Group's nominees: Dorrit Bern, Lynda Davey,
Mindy Meads and John Mills. These new Directors join Wet Seal's Board of

See full press release

Posted-In: News Guidance Contracts Management

 

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