Investor Accuses Aeropostale CEO, Board Of Mismanagement

Law360, New York (March 1, 2012, 5:40 PM EST) -- An investor hit clothing seller Aeropostale Inc.'s former CEO Mindy Meads, current CEO Thomas P. Johnson and current and former board members with a derivative lawsuit Wednesday claiming their mismanagement cost investors millions of dollars.

The Booth Family Trust filed suit in New York state court claiming the specialty retailer that caters to girls between 14 and 17 years old suffered especially at the hands of Meads, who "was essentially forced out" in December 2010 but received a $3.2 million severance package.

Meads' plan for the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.