By  on February 2, 2011

NEW YORK — J. Crew Group Inc., which is battling shareholders unhappy with its $3 billion deal to be taken private, reiterated that it would stand by the now-disputed settlement the two parties reached last month and said it plans to file a motion to dismiss the case.

The retailer, in a letter Tuesday to Delaware Chancery Court Vice Chancellor Leo Strine Jr., said it had fulfilled its side of the bargain. “If plaintiffs continue to refuse to negotiate in good faith over the specific wording of a release, defendants will assert counterclaims and third-party claims for breach of contract against plaintiffs and the class, among others,” the document said.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus