On May 26, 2015, Legion Partners LLC issued a press release. In the press release, Legion Partners stated that in response to recent positive steps the Board of Directors of Perry Ellis International, Inc. has taken to address shareholder concerns, Legion Partners and the California State Teachers' Retirement System (CalSTRS) announced the withdrawal of their slate of director nominees for election to the Board and their proposal to appoint an independent chairman at the Company's upcoming 2015 annual meeting of shareholders. Legion Partners stated that CalSTRS' 14a-8 proposal to declassify the Board would continue to be presented for a vote at the annual meeting of shareholders of the Company.