Legion Partners issued a public letter Tuesday morning calling for the removal of Guess Inc. undefined co-founders and directors Paul and Maurice Marciano...
Legion Partners issued a public letter Tuesday morning calling for the removal of Guess Inc. GES, +0.65% co-founders and directors Paul and Maurice Marciano after repeated allegations of sexual misconduct and assault. The Wall Street Journal, which first reported the activist investor demand, says Legion has a"roughly" 2.5% stake in Guess.
While praising Guess' Chief Executive Carlos Alberini for steps take to improve the business, Legion says the company can't reach its"full potential" as long as the Marcianos put Guess at reputational and legal risk.
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