Urban Outfitters Reaches $8.5M Class Deal With Investors

Law360, Los Angeles (June 8, 2016, 9:27 PM EDT) -- Urban Outfitters Inc. agreed to pay $8.5 million to a group of investors who accused the clothing retailer of hiding the harsh truth about its sales trends ahead of a 2013 stock drop, according to a proposed deal to end the suit in Philadelphia on Wednesday.

The company would shell out the sum to cover the investors' claims, taxes and attorneys' fees and costs, but it doesn't admit to any wrongdoing and denies all the claims levied by investor David Schwartz, according to the proposed settlement...
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Case Information

Case Title

SCHWARTZ v. URBAN OUTFITTERS, INC. et al


Case Number

2:13-cv-05978

Court

Pennsylvania Eastern

Nature of Suit

Other Statutes: Securities/Commodities

Judge

MARK A. KEARNEY

Date Filed

October 11, 2013

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