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Barington Group Terminates Proxy Solicitation at Chico's

As reported in The Wall Street Journal, Reuters and other media outlets, the Barington Group, an activist investment firm, announced that it has terminated its proxy contest to elect two representatives to the board of directors of Paul, Weiss client Chico's FAS, Inc. at the company's 2016 annual meeting of stockholders. As a result, Barington will be withdrawing its director nominations. Chico's FAS has nominated four individuals for election to its board of directors, including two new independent directors. Chico's FAS received support for all four of its nominees from proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis.

The company, through its brands, Chico's, White House Black Market and Soma, is a leading omni-channel specialty retailer of women's private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories and other non-clothing items.

The Paul, Weiss team included corporate partners Scott Barshay, Steven Williams and John Kennedy and counsel David Harris and Frances Mi; employee benefits partner Lawrence Witdorchic; and litigation partner Aidan Synnott.

July 15, 2016

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