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Apr 16, 2009
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KarpReilly withdraws nominees to Charlotte Russe board

By
Reuters
Published
Apr 16, 2009

April 16 (Reuters) - Charlotte Russe Holding Inc (CHIC.O) said its shareholder KarpReilly LLC withdrew its nominees to the company's board, after two proxy advisory firms recommended shareholders to re-elect all seven directors.


Spring at Charlotte Russe (www.charlotterusse.com)

The women's-apparel retailer, which is carrying out a process for the sale of the company, said all of its nominees have received support of Riskmetrics Group and Glass Lewis.

KarpReilly had proposed to buy Charlotte Russe in November 2008 but subsequently withdrew its proposal.

In March, Charlotte Russe urged shareholders to reject KarpReilly's proposed slate of nominees, citing the groups conflict of interest.

Shares of the retailer, which competes with Abercrombie & Fitch Co (ANF.N) and Hot Topic Inc (HOTT.O), were trading up a percent at $12.29 Thursday on Nasdaq. (Reporting by Poojya Trivedi in Bangalore; Editing by Ratul Ray Chaudhuri)

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