24th May 2022 11:47
Alliance News - boohoo Group PLC on Tuesday said it has reached a final settlement in its Californian class action claim.
In a class action suit, the online retailer was alleged to have misled customers with its pricing.
Lawyers said the company advertised "fake and inflated comparison reference prices to deceive customers into a false belief" that the actual sale price is discounted.
However, boohoo on Tuesday said it has "reached a final settlement".
The company notes that the settlement is without admission of liability and is within boohoo's existing legal provisions.
Boohoo said the settlement remains subject to review and approval by the District Court of California.
Shares in boohoo were 5.1% lower at 78.28 pence each in London on Tuesday morning.
By Sophie Rose; [email protected]
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