Shares of Urban Outfitters Inc. (NASDAQ: URBN) rallied more than 2% on Wednesday on speculation that the company could be a takeover target. The clothing and lifestyle chain was recently sued by a shareholder contending company officials misled investors before the stock declined. Urban Outfitters, Inc. operates lifestyle specialty retail stores under the Urban Outfitters, Anthropologie, Free People, and Terrain brands; and engages in the apparel wholesale business under the Free People and Leifsdottir brands. Stay tuned for more.
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