Robbins Umeda LLP Announces an Investigation of The Talbots, Inc.
May 31 2012 - 6:25PM
Business Wire
Shareholder rights firm Robbins Umeda LLP has commenced an
investigation into possible breaches of fiduciary duty and other
violations of the law by members of the board of directors of The
Talbots, Inc. (NYSE: TLB) in connection with their efforts to sell
the company to Sycamore Partners. Concerned shareholders who would
like more information about their rights and potential remedies can
contact attorney Gregory E. Del Gaizo at (800) 350-6003,
info@robbinsumeda.com, or via the shareholder information form on
the firm's website.
On May 31, 2012, Talbots announced that it had entered into a
definitive merger agreement to be acquired by Sycamore Partners.
According to the terms of the deal, Sycamore Partners will acquire
all outstanding shares of the company through an all-cash
transaction. Pursuant to the agreement, Talbots shareholders will
receive $2.75 in cash for each share of the company they own. The
transaction is expected to close in the third quarter of 2012.
Robbins Umeda LLP's investigation focuses on whether the board
at Talbots is undertaking a fair process to obtain maximum value
and adequately compensate shareholders. In the last several months,
the board at Talbots has previously received and subsequently
rejected as "inadequate" an acquisition proposal that valued
Talbots higher than the current offer price of $2.75 per share.
Additionally, several leading market analysts have released target
prices for Talbots that value that company's stock between $3.00
and $4.00 per share.
In light of the Board's previous statements, several recent
target prices, and the performance of Talbots' common stock,
Robbins Umeda LLP is examining the board's decision to sell Talbots
now at $2.75 per share rather than allow shareholders to continue
to participate in the company's continued success and future growth
prospects.
Robbins Umeda LLP attorneys highlight that Talbots shareholders
have the option to file a class action lawsuit against the company
to secure the best possible price for the company's shareholders
and the disclosure of material information to shareholders so they
can vote on the transaction in an informed manner.
Robbins Umeda LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested. For more information,
please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/the-talbots-inc/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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