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Everlast Worldwide announces filing of definitive proxy materials
20 Aug '07
3 min read
If shareholders have questions about the special meeting or the transactions after reading the Company's definitive proxy statement, they are encouraged to contact the Company's proxy solicitor, MacKenzie Partners Inc, at 105 Madison Avenue, New York, New York 10016.
As disclosed in the Company's definitive proxy materials, the Company also announced that entered into a memorandum of understanding pursuant to which the parties reached an agreement in principle for the settlement of the consolidated William Sweet and Charles Restivo shareholder lawsuit actions.
The parties have agreed to use their best efforts to agree upon, execute and present to the Court, by September 21, 2007, a formal stipulation of settlement.
Pending the negotiation and execution of such stipulation, all proceedings, other than settlement-related proceedings, have been suspended.
Pursuant to the memorandum of understanding, plaintiffs and their counsel have agreed that they will petition the Court only for attorneys' fees and expenses, and the Company has agreed not to oppose any such motion.
As disclosed in the Company's definitive proxy materials, the Company also announced that entered into a memorandum of understanding pursuant to which the parties reached an agreement in principle for the settlement of the consolidated William Sweet and Charles Restivo shareholder lawsuit actions.
The parties have agreed to use their best efforts to agree upon, execute and present to the Court, by September 21, 2007, a formal stipulation of settlement.
Pending the negotiation and execution of such stipulation, all proceedings, other than settlement-related proceedings, have been suspended.
Pursuant to the memorandum of understanding, plaintiffs and their counsel have agreed that they will petition the Court only for attorneys' fees and expenses, and the Company has agreed not to oppose any such motion.
Everlast Worldwide Inc
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