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 Cofounder, 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 (firstname.lastname@example.org),
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.
To learn more about KSF, you may visit www.ksfcounsel.com.
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