Respondent Luciano Manganella Awarded Attorneys’ Fees NEW YORK-…

Respondent Luciano Manganella Awarded Attorneys’ Fees

NEW YORK– LAWFUEL – The Legal Newswire –On June 13, 2007, the arbitration proceeding Lerner New York, Inc., an affiliate of New York & Company, Inc. (NWY), initiated in June, 2006 against Luciano Manganella, the founder and former President of Lerner’s wholly-owned subsidiary, Jasmine Company, Inc. was officially closed. The panel of appointed arbitrators issued an interim opinion on April 20, 2007 in Mr. Manganella’s favor. On April 20, the panel also indicated that Mr. Manganella should be awarded his attorneys’ fees and costs, and an opinion and final Award dated June 13, 2007 has further awarded Mr. Manganella $2,000,000 in attorneys’ fees and costs, in addition to $309,606.33 in interest. Respondent Luciano Manganella, and Stacey Manganella, the former Executive Vice President of Merchandising of Jasmine Company, Inc., will continue to pursue additional claims for damages, including those which Mr. and Mrs. Manganella initiated against Jasmine Company, Inc. following the termination of their employment with Jasmine Company, Inc.

Inquiries regarding this press release should be directed to counsel for Luciano Manganella at Kirkpatrick & Lockhart Preston Gates Ellis LLP.

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