The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of The Talbots, Inc. in Connection with Receipt of a Going Private Proposal

Published on Wednesday, 07 December 2011 18:57 Written by TradersHuddle Staff

NEW YORK, Dec. 7, 2011 /PRNewswire/ -- 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 receipt of an acquisition offer from private equity firm Sycamore Partners ("Sycamore").  Sycamore is Talbots' largest shareholder, holding 9.9% of the Company's total shares. Under the terms of the proposed transaction, Talbots shareholders will receive $3.00 per share of Talbots stock they own.  The transaction has a total approximate value of $202.5 million.

Click here to learn how to join the action: http://www.zlk.com/talbots-tlb, or call: 877-363-5972.

The investigation concerns whether the Talbots Board of Directors breached their fiduciary duties by failing to act in the best interests of the Company's shareholders in evaluating the offer from Sycamore. According to reports, Sycamore has said that Talbots managers have rebuffed attempts to discuss any "value-enhancing transaction."  Furthermore, as recently as June of this year, Talbots stock traded at $4.76 per share and at least one analyst set a price target for Talbots stock at $4.00 per share. 

If you own common stock in Talbots and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it. or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com.

Levi & Korsinsky is a national firm with offices in New York and Washington D.C.  The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.  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 litigations involving mergers and acquisitions.  For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:   

Levi & Korsinsky, LLP

Joseph Levi, Esq.

Eduard Korsinsky, Esq.

30 Broad Street - 15th Floor

New York, NY 10004           

Tel: (212) 363-7500

Toll Free:  (877) 363-5972

Fax: (212) 363-7171

www.zlk.com

SOURCE Levi & Korsinsky, LLP