Law Firm Brower Piven Announces Investigation of The Talbots, Inc.

The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of The Talbots, Inc. (“Talbots”) (NYSE: TLB) and other violations of state law by the board of directors of Talbots relating to the proposed acquisition of the company by Sycamore Partners, LP (“Sycamore”). The firm’s investigation seeks to determine, among other things, whether the board is breaching their fiduciary duties by failing to maximize shareholder value.

On December 6, 2011, Talbots announced that its board had received an unsolicited letter from Sycamore outlining a non-binding proposal to acquire all of Talbot’s outstanding common stock for $3.00 per share in cash. According to Yahoo! Finance, at least one analyst has set a price target of $4.00 per share, and the stock was trading above the proposed takeover price as recently as a few months ago. Moreover, a portfolio manager at OppenheimerFunds (Talbot’s biggest shareholder) recently called Sycamore’s takeover offer a “very opportunistic” effort to pick up Talbot’s assets on the cheap.

If you currently own shares of Talbots and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven 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. Brower Piven is a Maryland-based firm that is knowledgeable of the Maryland legal standards that will apply in seeking to protect shareholders' rights. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.

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