Clinton Group Correspondence, June 15, 2012
FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--
The Wet Seal, Inc. (Nasdaq: WTSLA), a leading specialty retailer to
young women, today issued the following statement from its Board of
Directors in response to a letter received on July 23, 2012 from Clinton
"The Wet Seal Board of Directors appreciates input from all of its
stockholders and is committed to maximizing stockholder value. The
Company has engaged in a series of discussions with the Clinton Group
following their initial letter on June 15, 2012, and continues to review
their recommendation regarding use of the Company's capital. Wet Seal is
committed to maintaining an active dialogue with its shareholders and,
as always, will continue to consider ways to maximize value for all
About The Wet Seal, Inc.
Headquartered in Foothill Ranch, California, The Wet Seal, Inc. is a
leading specialty retailer of fashionable and contemporary apparel and
accessory items for young women. As of June 30, 2012, the Company
operated a total of 553 stores in 47 states and Puerto Rico, including
470 Wet Seal stores and 83 Arden B stores. The Company's products can
also be purchased online at www.wetseal.com
For more Company information, visit www.wetsealinc.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995: This news release contains forward-looking statements as that
term is defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include, but are not limited to, any
statements that relate to the intent, belief, plans or expectations of
the Company or its management. All forward-looking statements made by
the Company involve material risks and uncertainties and are subject to
change based on factors beyond the Company's control. Accordingly, the
Company's future performance and financial results may differ materially
from those expressed or implied in any such forward-looking statements.
Such factors include, but are not limited to, those described in the
Company's filings with the Securities and Exchange Commission. The
Company does not undertake to publicly update or revise its
forward-looking statements even if experience or future changes make it
clear that any projected results expressed or implied therein will not
The Wet Seal, Inc.
Steven H. Benrubi, 949-699-3947
Source: The Wet Seal, Inc.
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