NEW ORLEANS, June 29, 2018 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Guess?, Inc. (NYSE:GES).
In February 2018, sexual harassment allegations by actress and Guess model Kate Upton against Guess Co-founder, Chairman and Chief Creative Officer, Paul Marciano, received widespread media attention but were denied by both the Company and Marciano, who had previously served as CEO until 2015.
On June 11, 2018, the Company reported the results of its investigation of the allegations (which it stated "included claims of…unwanted advances including kissing and groping") but did so in a vague and inconclusive manner. For example, that "[m]any of the allegations could not be corroborated" without specifying the ones that were corroborated, and that "Marciano exercised poor judgment in his communications and in placing himself in situations in which plausible allegations of improper conduct could, and did, arise" while at the same time admitting that it paid $500,000 to settle five claims of "inappropriate conduct" by Marciano and that he had resigned as Executive Chairman, but would remain on the Board and also as Chief Creative Officer until the end of his employment agreement in January 2019.
KSF's investigation is focusing on whether Guess?'s officers and/or directors breached their fiduciary duties to Guess?'s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Guess? shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ges/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.