Matthew Smith

Abercrombie & Fitch, after making numerous management changes to appease angry shareholders this year, is still facing heat for CEO Mike Jeffries’ spending and his partner's excessive involvement in the business. The company is aiming to settle a lawsuit brought by a Florida pension plan at the end of August, which documents a host of bad behavior by Jeffries, his partner Matthew Smith, and Abercrombie's board. The shareholders, furious over the more than $140 million Jeffries has made since 2008 despite Abercrombie's lackluster performance, were able to obtain hundreds of internal corporate documents for review as part of the lawsuit.