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.

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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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May 24, 2022 05:55 ET (09:55 GMT)

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