Bronstein Settles for $3 Million
Foothill Ranch–based teen apparel retailer The Wet Seal Inc. has agreed to pay ousted Chief Executive Officer Kathy Bronstein more than $3 million to settle Bronstein’s charges of wrongful termination, gender discrimination, fraud, invasion of privacy and emotional distress. Bronstein served as the top executive of the chain for 10 years before being fired earlier this year. She did not file suit against the retailer, however, and instead filed documents with the Securities and Exchange Commission. Wet Seal agreed to pay Bronstein nearly $2.2 million and surrender a $900,000 insurance life policy that had been part of Bronstein’s retirement package. Bronstein also has until next year to exercise 405,000 vested stock options in the company.
