New story in Business from Time: Companies Are Losing Millions After #MeToo Allegations Like Kate Upton’s Claim Against Guess’ Paul Marciano

Hours after Kate Upton used Twitter Thursday to accuse Guess co-founder Paul Marciano of using his power to “sexually and emotionally harass women,” the company’s shares dropped almost 18%. Guess lost more than $250 million in market value in one day. Despite the company issuing a denial of Upton’s claims, shares continued to slide on …

New story in Business from Time: Companies Are Losing Millions After #MeToo Allegations Like Kate Upton’s Claim Against Guess’ Paul Marciano

Hours after Kate Upton used Twitter Thursday to accuse Guess co-founder Paul Marciano of using his power to “sexually and emotionally harass women,” the company’s shares dropped almost 18%. Guess lost more than $250 million in market value in one day. Despite the company issuing a denial of Upton’s claims, shares continued to slide on …