Rigrodsky & Long, P.A. Investigates The Talbots, Inc.’s Receipt Of Going Private Proposal
Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of The Talbots, Inc. (“Talbots” or the “Company”) (NYSE: TLB) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s receipt of a proposal from Sycamore Partners (“Sycamore”) to acquire the remainder of the Company it does not already own for approximately $212 million in cash (the “Proposal”).
Click here to learn more and to discuss your shareholder rights: http://investigations.rigrodskylong.com/talbots-inc-tlb/.
The Proposal contemplates Sycamore’s acquisition of all of the outstanding shares of common stock of Talbots for $3.00 per share in cash. Sycamore already owns approximately 9.9% of the Company’s outstanding shares.
The investigation concerns the board of directors’ process for consideration of the proposed transaction, whether Talbots is acting in its shareholders’ best interests by refusing to enter into negotiations with Sycamore, and whether the proposed consideration to be paid to Talbots’ shareholders would be fair and adequate. According to the Proposal, Talbots’ board of directors has “rebuffed [Sycamore’s] efforts to conduct meaningful discussions regarding potential value-enhancing transactions” despite Sycamore’s indication that “if the Board were to provide [Sycamore] with access to information, [Sycamore] could potentially get to a position where [it] would consider increasing [its] offer for the Company.”If you own the common stock of Talbots and purchased your shares before December 6, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, 19801, by telephone at (888) 969-4242, or by e-mail to firstname.lastname@example.org. Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.
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