On June 15, 2005, the Company disclosed that it expects to record net provisions in the range of $30 million to $40 million (taking into account $15 million of pre-existing tax reserves for these matters) with respect to the USAO investigation, the Hong Kong IRD matter, the Tommy Hilfiger Licensing, Inc. (a Delaware intangible holding company) matter, and the New Jersey Alternative Minimum Assessment refunds.
Update on Shareholder Class Action Litigation On August 1, 2005, pursuant to a revised scheduling order, the Company filed a motion to dismiss the consolidated amended complaint in the previously disclosed shareholder class action litigation that was filed following the Company's September 24, 2004 announcement of the USAO investigation. The Company currently expects that a hearing on its motion to dismiss will be held in October 2005.
Tommy Hilfiger Corporation, through its subsidiaries, designs, sources and markets men's and women's sportswear, jeanswear and childrenswear. The brands comprise Tommy Hilfiger and Karl Lagerfeld. The Company also offers a broad array of related apparel, accessories, footwear, fragrance, and home furnishings.
The Company's products can be found in leading department and specialty stores throughout the United States, Canada, Europe, Mexico, Central and South America, Japan, Hong Kong, Australia and other countries in the Far East, as well as the Company's own network of outlet and specialty stores in the United States, Canada and Europe.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
