Abercrombie & Fitch Settles Securities Class Action Lawsuit Filed Against It By Abercrombie & Fitch Shareholders For $12 Million.
A class action settlement has been reached in a class action lawsuit filed against Abercrombie & Fitch Co. in the United States District Court for the Southern District of Ohio on behalf of Abercrombie & Fitch shareholders who purchased shares of Abercrombie & Fitch (ANF) between June 2, 2005 and August 16, 2005, alleging that Abercrombie & Fitch misled investors with false statements and withheld adverse information, according to class action settlement news reports.
According to an Abercrombie & Fitch filing with the Securities & Exchange Commission (SEC), Abercrombie & Fitch Co. entered into an agreement in principle with the litigants in the consolidated federal securities law litigation styled Robert Ross vs. Abercrombie & Fitch Company, et al. on May 26, 2010. Pursuant to the agreement in principle, the parties have agreed to settle all outstanding claims, as a class action, for $12 million, including all attorneys’ fees and other costs and expenses. The full settlement amount is to be paid by Abercrombie & Fitch’s insurers. The agreement in principle is subject to definitive documentation, notice to the class and final approval by the United States District Court for the Southern District of Ohio.
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