The Limited amended a suit over Lerner Stores.
The retailer filed an amended $25-million suit in U.S. District Court in New York against a number of defendants who were involved in the sale of Lerner Stores to the Limited in 1985, according to Women’s Wear Daily. The action alleges that Meshulam Riklis, chairman of Rapid-American, and others misrepresented or omitted data, thereby falsely inflating Lerner’s assets and income. A federal judge had dismissed an earlier Limited complaint. A lawyer representing the defendants said the new complaint is without merit.
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