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Abercrombie & Fitch Derivative Litigation Dismissed

Law360 (March 13, 2009, 12:00 AM EDT) -- The consolidated derivative shareholder actions against Abercrombie & Fitch Co. and its executives have been dismissed while related securities fraud claims over alleged insider trading and artificial inflation of the company's stock price remain pending.

Judge Edmund A. Sargus Jr. of the U.S. District Court for the Southern District of Ohio on Thursday rendered a judgment dismissing the derivative portion of the case, which has been pending since 2005.

The court's opinion was filed under seal and an attorney for Abercrombie said he could not comment...
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