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IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
HARVEY ALTMAN, on behalf of
himself and all others similarly
situated,
Plaintiff, -
>
1
V. ) Civil Action No. 16601 "-`l
ABERCROMBIE & FITCH CO., a
Delaware corporation, JOHN A.
GOLDEN, SETH R. JOHNSON,
SAM N. SHAHID, JR., DOUGLAS L.
WILLIAMS, GEORGE FOOS,
MICHAEL S. JEFFRIES, and JOHN
W. KESSLER,
Defendants.
STIPULATION OF SETTLEMENT
The parties to the above-captioned action, by and through their respective
entered into the following Stipulation of Settlement (the "Stipulation") subject to the
Court of Chancery of the State of Delaware in and for New Castle County (the "Court"):
WHEREAS,
A. Defendant Abercrombie & Fitch Co. ("Abercrombie & Fitch" or the "Company")
a Delaware corporation with its principal place of business in Reynoldsburg, Ohio. The
SNIPPETS:
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
The parties to the above-captioned action, by and through their respective attorneys, have
entered into the following Stipulation of Settlement subject to the approval of the
a Delaware corporation with its principal place of business in Reynoldsburg,
FOOS, Michael S. Jeffries and John W. Kessler (collectively, the "Individual Defendants")
members of the Abercrombie & Fitch board of directors during the period July 1998
The Company is a specialty retailer of casual apparel.
by adopting a shareholder rights plan.
The Plan provided that only the directors who were in office immediately prior to any person
August 24,1998, Plaintiff Harvey Altman filed a purported class action complaint
against Abercrombie & Fitch and the Individual Defendants, styled as Altman v. Abercrombie &
Provision, constituted an impermissible restriction on the statutory obligations of future
the plaintiff asserted that the Continuing Director
in connection with the settlement embodied in this
Settled Claims described in paragraph 2 below, the parties to the Action have agreed to
Plaintiff and all members of the Class agree that any and all claims,
limited partners or partnerships, personal representatives, estates, administrators,
As soon as practicable after the execution of the Stipulation, the parties hereto shall
Final Judgment dismissing the Action with prejudice and on the merits, each party to bear its
Chancery Court Rules.
At or before the hearing, plaintiffs counsel will apply for an award of attorneys' fees
(inclusive of expenses)
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