By  on August 7, 2008

Hampshire Group Ltd.’s second-quarter loss more than doubled on
flat sales.

Despite the decline in its bottom line, shares of Hampshire rose $1.30, or 16.9 percent, to close at $9 on Wednesday. It was the second consecutive day of double-digit percentage increases for the stock after Monday’s disclosure that Hampshire and former chief executive officer Ludwig Kuttner had settled a dispute resulting from an audit committee investigation into Kuttner’s business expenses and alleged mismanagement and tax evasion. He dropped a wrongful dismissal lawsuit and Hampshire withdrew its lawsuit against Kuttner.

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