Victoria's Secret Plagued By 'Abusive' Culture, Investor Says
By Hailey Konnath (June 18, 2020, 10:48 PM EDT) -- Victoria's Secret's parent company L Brands' "hostile, abusive environment rife with sexual harassment" has irreparably harmed the reputation of the lingerie company and wrecked plans to spin it off, according to a derivative shareholder suit removed to Ohio federal court Wednesday.
Like many retailers, Victoria's Secret has struggled in recent years, and L Brands had been looking to spin off the company so it could focus on growing its other major subsidiary, Bath & Body Works, according to the complaint filed by L Brands investor Milton Rudi.
"But effecting this spinoff has been difficult because Victoria's Secret is no longer a...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!