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True Religion CEO sells shares under divorce deal
June 9, 2007 / 1:08 AM / 10 years ago

True Religion CEO sells shares under divorce deal

NEW YORK (Reuters) - True Religion Apparel Inc. TRLG.O, maker of high-end jeans, said on Friday its chairman and chief executive, Jeffrey Lubell, sold 2.3 million company shares on June 7 to fulfill obligations under his divorce agreement with Kymberly Gold-Lubell, the company’s former vice president of women’s design.

Following the sale, Lubell retains ownership of 6,421,066 shares, or about 22.4 percent, of the company’s outstanding stock.

Gold-Lubell, whose departure was announced in March, was True Religion’s second-largest individual shareholder behind her husband.

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