Tag #Indemnity Agreement

What are the immediate financial and legal implications for Abercrombie & Fitch resulting from the court's decision to compel them to pay Mike Jeffries' legal fees?

A US court ruled that Abercrombie & Fitch must cover the legal fees for its former CEO, Mike Jeffries, who faces sex trafficking charges. This follows a 2014 agreement covering Jeffries for costs arising from his position; a judge found the charges linked to his corporate role, despite A&F's arguments.