By  on August 30, 2012

The Clinton Group Inc. has moved forward in its effort to reconstitute the board of The Wet Seal Inc. and boosted its stake in the troubled specialty retailer.

In a filing with the Securities and Exchange Commission, the activist investor group sought comment and approval from the SEC in its effort to obtain shareholder support to unseat four incumbent directors, including chairman Harold Kahn, and fill the board vacancy created by the termination last month of Susan McGalla as the company's chief executive officer.

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