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Danier Leather to oppose court submission on IPO issue

14
Feb '06
Specialty apparel leather retailer Danier Leather Inc was formally advised that an application has been made to the Supreme Court of Canada seeking leave to appeal the unanimous decision of the Ontario Court of Appeal that dismissed on three separate grounds, the class action suit brought concerning the Company's initial public offering.

Jeffrey Wortsman, President and Chief Executive Officer of Danier Leather Inc, said, "This application comes as no surprise. Plaintiffs' legal counsel had indicated in December that they would seek leave to appeal the Ontario Court of Appeal's ruling."

"We will oppose this application and believe it should be dismissed. We believe that the Court of Appeal's decision was correct and that the plaintiffs have not raised any issues concerning it which merit review by the Supreme Court of Canada."

Toronto based Danier Leather's products are sold exclusively at its 97 shopping mall, street-front, and large format power centre stores or through its corporate sales division and online through its website.

Danier Leather Inc


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