Transcript for Guess co-founder resigns after sexual misconduct allegations
Now to the announcement rocking the fashion world, guess co-founder Paul Marciano stepping down after accusations of inappropriate conduct. Now, you may recall supermodel kateupton coming to "Gma" to discuss that. Linsey Davis is here with the new developments. Good morning, linsey. Reporter: Good morning. Teenagers growing up in the '80s likely remember it that famous upside down triangle with a question mark. After a subsequent investigation into inappropriate comments and unwanted groping by designer Paul Marciano a restructuring is now under way. Marciano is leaving his post at the iconic clothing company he co-founded. Guess now announing its co-founder Paul Marciano is stepping down as the company's executive chairman after a sexual misconduct investigation into allegations of inproper behavior. The company announced Tuesday in an S.E.C. Filing that its investigation found that on certain occasions Mr. Marciano exercised poor judgment in his communications with models and photographers and in placing himself in situations in which plausible allegations of improper conduct could and did arise. Adding that Marciano and the company paid a total of half a million dollars to five women to avoid the cost of litigation and without admitting liability or fault. ?????? earlier this year, actress and model kateup ton accused him of harassing her when she was just 18 alleging he forcibly grabbed my breasts and starting feeling them and grabbed the back of my head so I could not move and started kissing my face and my neck. Marciano denied the claims calling them preposterous, something Upton addressed when she sat down with robin here on "Gma." I think it speaks to how he's treated these allegations in the past and it used to work before but that's not the case anymore and we're being heard and our stories are taken seriously. This story was first reported by the blast. The S.E.C. Filing notes that some allegations against Marciano were not able to be corroborated. Guess has appointed Marciano's brother to take his place as chairman of the board while Marciano has resigned as chairman, he will remain on the board. All right, linsey, thanks very much. Michael. Thanks. Now to that blockbuster deal
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