Wet Seal Expands Board Amid Activist Pressure

Law360, New York (March 10, 2014, 3:00 PM EDT) -- The Wet Seal Inc. added three independent members on Monday to its board of directors as the California-based retailer, which markets apparel to teenage girls, faces pressure from a potential buyout campaign by activist hedge fund Clinton Group Inc.

The appointment of Deena Varshavskaya, the CEO and founder of social shopping platform Wanelo; Nancy Lublin, the CEO of the young adult social change platform DoSomething.org; and Adam Rothstein, the general partner of Distrupt-ive Technologies Partners; grows Wet Seal’s board of directors from seven members to nine,...
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