Destination XL Announces Agreement With Cannell Capital

Paul, Weiss is representing Destination XL Group, Inc. in connection with its agreement with Cannell Capital LLC to appoint Lionel Conacher to Destination XL’s board of directors and to increase the board’s size to ten. At the 2018 annual meeting, the board will nominate and recommend Mr. Conacher for election as a director and revert board size back to nine.

Cannell agreed to withdraw its nominations with respect to the 2018 annual meeting and to vote in favor of certain of the company’s proposals, including the company’s slate of director nominees. Cannell also agreed to be bound by certain standstill provisions. The terms of the agreement, announced on June 12, expire January 29, 2019.

The Paul, Weiss team includes, among others, corporate partners Robert Schumer and Ross Fieldston and counsel Frances Mi.