Rigrodsky & Long, P.A., a national securities firm with offices in Delaware and New York, announces that it is investigating potential claims against the board of directors of The Talbots, Inc. (“Talbots” or the “Company”) (NYSE: TLB). The investigation concerns possible breaches of fiduciary duty and other violations of law related to Talbot’s receipt of a proposal from Sycamore Partners to acquire all of the outstanding shares of the Company’s common stock in a going private transaction valued at approximately $215 million.
Under the terms of the proposal, public shareholders of Talbots will receive $3.05 in cash for each share of Talbots they own. In addition, the Company today announced that it has entered into an exclusivity agreement with Sycamore Partners in connection with the proposal, which will terminate on May 15, 2012.
The investigation concerns the Company’s board of directors’ process for consideration of the proposed transaction, whether Talbots is acting in its shareholders’ best interests and whether the proposed consideration to be paid to Talbots’ shareholders would be fair and adequate. Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $4.00 for the Company’s shares.
If you own the common stock of Talbots and purchased your shares before May 7, 2012, 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 Scott J. Farrell, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations.com/the-talbots-inc-tlb-2.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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