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.
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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 email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/TLB-Talbots.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.