GUESS CHAIRMAN PAUL MARCIANO RESIGNS FOLLOWING HARASSMENT CLAIMS

Guess chairman Paul Marciano has stepped down from the company that he co-founded amid reports of sexual-harassment by a number of women including Kate Upton. The co-founder and Guess reached individual settlement agreements totaling $500,000 USD to avoid “the cost of litigation and without admitting liability or fault,” according to a company filing Tuesday. Marciano will remain on the company’s board.

What We Know: The allegations included claims of “inappropriate comments and texts, and unwanted advances including kissing and groping.”  Investigators interviewed more than 40 people and reviewed over 1.5 million pages worth of documents.

Notable Quotes: “The investigation found that on certain occasions Mr. Marciano exercised poor judgement in his communications with models and photographers and in placing himself in situations in which plausible allegations of improper conduct could, and did, arise.” -Statement from Guess