J Crew Settles Investor Lawsuits for $16 million

In Fashion Law by FASHIONENTLAW™

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Folks, the real buzz word here in this story is the term “settlement agreement.” Should you currently be in litigation and reach this stage, your lawyers will handle this. You should have a lawyer at this stage. The goal here is the parties resolve the dispute and decide all the fighting is not worth it. Both sides are losing money and the lawsuit just keeps dragging. Plus, there is no telling what might happen at trial. So, both sides have an incentive to settle.
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Investors agreed to a $16 million settlement of lawsuits stemming from the buyout of clothing retailer J Crew Group Inc by two private equity groups, according to an investor attorney.

The settlement is based on an earlier $10 million agreement that collapsed in January, according to Stuart Grant of Grant & Eisenhofer PA, which represents shareholders.

The earlier agreement collapsed after each side accused the other of failing to keep up its end of the bargain.

The shareholder lawsuits stem from the $3 billion deal by TPG Capital LP and Leonard Green & Partners LP to buy the company, which has more than 300 stores and a catalog operation.

TPG and J Crew declined to comment. Leonard Green did not return calls for comment. . .” Reuters has the full story.

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WHAT IS Fashionentlaw™: It is a law blog discussing hot topics in pop culture that arise primarily out of the fashion industry and intersects/ collides with the law. WHAT I DO: My name is Uduak Oduok and I am a California licensed attorney who helps creatives and business owners sleep better at night by protecting their creativity and reputation, securing their rights, and helping them with the monetization of their intellectual assets. WHO I WORK WITH: I have counseled a range of clients from musicians, models, actors, actresses, and designers, to diverse business owners in numerous areas of the law including contracts, business law, fashion and entertainment law, copyright, trademark, and intellectual property law. I bring over two decades of first-hand knowledge and experiences that are as diverse as they are deep in the fashion and entertainment industries (modeling, retail, production, public relations, journalism, and publishing). I am an attorney who “gets it” when it comes to resolving legal issues for the fashion and entertainment industries. INTERESTED IN TALKING TO ME ABOUT LEGAL REPRESENTATION? To arrange a consultation to discuss your case, contact me today at 916-361-6506 or email me directly at (uduak@ebitulawgrp.com). Full bio: Ms. Uduak Bio/ Twitter @uduaklaw