Brower Piven Encourages Investors Who Have Losses in Excess of $200,000 From Investment in The Talbots, Inc. to Inquire About th
February 08 2011 - 5:34PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the District of Massachusetts on behalf of purchasers of
the common stock of The Talbots, Inc. ("Talbots" or the "Company")
(NYSE: TLB) during the period between December 8, 2009 and January
11, 2011, inclusive (the "Class Period").
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than April 4, 2011 and be selected by the Court.
The lead plaintiff will direct the litigation and participate in
important decisions including whether to accept a settlement and
how much of a settlement to accept for the Class in the action. The
lead plaintiff will be selected from among applicants claiming the
largest loss from investment in the Company during the Class
Period. You are not required to have sold your shares to seek
damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the Company's failure
to disclose during the Class Period that the Company would have to
resort to dramatic and widespread promotional pricing to keep pace
with its competitors such that statements to the contrary were
untrue and projections based on sale of inventory at full price
were illusory and unattainable. According to the Complaint, after,
on January 11, 2011, Talbots reported that quarter-to-date top line
sales were down approximately 7% versus the fourth quarter of the
prior year and the Company's previously announced expectation for
fourth quarter top-line sales in the range of flat to down
low-single digits, the value of Talbot stock declined
significantly.
If you have suffered a net loss for all transactions in The
Talbots, Inc. common stock during the Class Period, you may obtain
additional information about this lawsuit and your ability to
become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410/415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and class action cases of over 50 years. If you choose
to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your
choice. You need take no action at this time to be a member of the
class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Stevenson, Maryland 410/415-6616 Email Contact
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