The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of The Ta...
May 31 2012 - 11:52AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
The Talbots, Inc. (“Talbots” or the “Company”) (NYSE: TLB) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Sycamore
Partners.
Click here to learn how to join the action:
http://zlk.9nl.com/talbots-tlb, or call: 877-363-5972.
There is no cost or obligation to you.
Under the terms of the transaction, Talbots shareholders will
receive $2.75 for each share of Talbots stock they own. The
transaction has a total approximate value of $369 million,
including the assumption of debt. The investigation concerns
whether the Talbots Board of Directors breached their fiduciary
duties to Talbots stockholders by accepting an offer below
Sycamore’s original bid. In December 2011 Sycamore offered $3.00
per share, but Talbots rejected the offer as being “inadequate and
substantially” undervaluing the Company. Talbots stock has traded
as high as $3.36 per share as recently as March 22, 2012.
If you own common stock in Talbots and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or visit http://zlk.9nl.com/talbots-tlb.
Levi & Korsinsky is a national firm with offices in New York
and Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. The attorneys at Levi & Korsinsky have been appointed
by numerous courts throughout the country to serve as lead counsel
on behalf of shareholders in major securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any
of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
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