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From Times Staff and Wire Reports
Esprit Suit Settled: The principal owners of clothier Esprit de Corp. reached an out-of-court settlement with an investor who had accused them of illegally diverting assets. Bruce Katz, who filed the suit, agreed to dismiss the litigation and sell his 25% stake in Esprit to Susie Tompkins, co-founder of the San Francisco-based clothing maker. The suit alleged that Tompkins and Michael Ying, the other Esprit principal, used an affiliate company to overcharge Esprit for clothing orders.
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