boohoo group plc Update on Californian Class Action Claim (5718M)
May 24 2022 - 4:50AM
UK Regulatory
TIDMBOO
RNS Number : 5718M
boohoo group plc
24 May 2022
FOR IMMEDIATE RELEASE 24 May 2022
boohoo group plc
("boohoo" or "the Group")
Update on Californian Class Action Claim
Further to the RNS published on 4 November 2021, when the Group
reported that it had agreed terms of a preliminary settlement
relating to a class action claim brought against the Group in the
United States District Court for the Central District of California
(the "District Court") (the "Claim"), the Group is pleased to
confirm that the parties have reached a final settlement (the
"Settlement").
The Settlement is without admission of liability and is
consistent with the guidance of 4 November 2021, being within the
Group's existing legal provisions disclosed in its latest published
audited accounts. The Settlement remains subject to review and
approval by the District Court.
-ends-
Enquiries
boohoo group plc
Alistair Davies, Investor Relations Tel: +44 (0)161 233 2050
Clara Melia, Investor Relations Tel: +44 (0)20 3289 5520
Mark Mochalski, Investor Relations Tel: +44 (0)20 3239 6289
Cheryl Chung, Corporate Relations Tel: +44 (0) 7833 635364
Zeus Capital - Nominated adviser and
joint broker
Nick Cowles / Andrew Jones Tel: +44 (0)161 831 1512
Benjamin Robertson Tel: +44 (0)20 3829 5000
Jefferies - Joint broker
Philip Noblet / Max Jones Tel: +44 (0)20 7029 8000
Buchanan - Financial PR adviser boohoo@buchanan.uk.com
Richard Oldworth / Kim Looringh-van Tel: +44 (0)20 7466 5000
Beeck / Toto Berger / Sophie Wills
Anreder & Co (United States PR)
Michael Wichman / Tel: +1 917 526 0855
Steven Anreder Tel: +1 917 923 7011
About boohoo group plc
"Leading the fashion eCommerce market"
Founded in Manchester in 2006, boohoo is an inclusive and
innovative global brand targeting young, value-orientated
customers, pushing boundaries to bring its customers up-to-date and
inspirational fashion, 24/7.
In 2017, the group extended its customer offering through the
acquisitions of the vibrant fashion brand PrettyLittleThing and
free-thinking brand Nasty Gal. In March 2019, the group acquired
the MissPap brand, in August 2019 the Karen Millen and Coast brands
and in June 2020 the Warehouse and Oasis brands, all complementary
to the group's scalable, multi-brand platform. In January 2021, the
group acquired the intellectual property assets of Debenhams, with
the goal of transforming a leading UK fashion and beauty retailer
into a digital department store and marketplace through a new
capital-light and low-risk operating model. In February 2021, the
group acquired the intellectual property assets of UK brands
Dorothy Perkins, Wallis and Burton. As at 28 February 2022, the
boohoo group had 20 million active customers across all its brands
around the world.
Cautionary Statement
Certain statements included or incorporated by reference within
this announcement may constitute "forward-looking statements" in
respect of the group's operations, performance, prospects and/or
financial condition. Forward-looking statements are sometimes, but
not always, identified by their use of a date in the future or such
words and words of similar meaning as "anticipates", "aims", "due",
"could", "may", "will", "should", "expects", "believes", "intends",
"plans", "potential", "targets", "goal" or "estimates". By their
nature, forward-looking statements involve a number of risks,
uncertainties and assumptions and actual results or events may
differ materially from those expressed or implied by those
statements. Accordingly, no assurance can be given that any
particular expectation will be met and reliance should not be
placed on any forward-looking statement. Additionally,
forward-looking statements regarding past trends or activities
should not be taken as a representation that such trends or
activities will continue in the future. No responsibility or
obligation is accepted to update or revise any forward-looking
statement resulting from new information, future events or
otherwise. Nothing in this announcement should be construed as a
profit forecast. This announcement does not constitute or form part
of any offer or invitation to sell, or any solicitation of any
offer to purchase any shares or other securities in the Company,
nor shall it or any part of it or the fact of its distribution form
the basis of, or be relied on in connection with, any contract or
commitment or investment decisions relating thereto, nor does it
constitute a recommendation regarding the shares or other
securities of the Company. Past performance cannot be relied upon
as a guide to future performance and persons needing advice should
consult an independent financial adviser. Statements in this
announcement reflect the knowledge and information available at the
time of its preparation. Liability arising from anything in this
announcement shall be governed by English law. Nothing in this
announcement shall exclude any liability under applicable laws that
cannot be excluded in accordance with such laws .
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END
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