Dress Barn Wins Appeal; $32 Million Judgment Overturned
May 31 2005 - 6:04PM
Business Wire
The Dress Barn, Inc. (NASDAQ - DBRN) announced today that the
Supreme Court of Connecticut reversed the 2003 judgment against the
Company in the amount of $32 million on an alleged breach of
contract arising out of a failed negotiation for an acquisition.
The Court directed that a final judgment be entered in favor of
Dress Barn. David R. Jaffe, President and Chief Executive Officer
of The Dress Barn, Inc. commented: "We have always believed that
this lawsuit was without merit, and we are gratified that the
highest court in the State of Connecticut has reversed the
judgment." The Company will host a conference call, tomorrow,
Wednesday, June 1, 2005, at 4:30 p.m. Eastern Time to review its
third fiscal quarter financial results. The conference call will be
webcast by Thomson/CCBN and can be accessed at The Dress Barn,
Inc.'s website at www.dressbarn.com. The dial-in number is (617)
614-2705 and the passcode is 58276380. A replay of the call will be
available until June 30, 2005 by dialing (617) 801-6888 the
passcode is 96916932. ABOUT THE DRESS BARN, INC. The Dress Barn,
Inc. (NASDAQ - DBRN), is a leading national specialty apparel
retailer offering quality career and casual fashion apparel through
the dressbarn and maurices brands. As of April 30, 2005, the
Company operated 788 dressbarn stores in 45 states and 476 maurices
stores in 39 states. For more information, please visit
www.dressbarn.com and www.maurices.com.
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