| Company: | Talbots, Inc |
| Ticker Symbol: | TLB |
| Class Period: | Dec-8-09 to Jan-11-11 |
| Date Filed: | Feb-4-11 |
| Lead Plaintiff Deadline: | Apr-5-11 |
| Court: | District of Massachusetts |
| Allegations: | |
The Complaint charges Talbots and certain of its officers and directors violated federal securities laws by failing to disclose material adverse facts about the Company's financial condition. Specifically, the Complaint alleges that: (i) notwithstanding defendants' mantra about the Company being a great turnaround story, demand for Talbots' full-price inventory was extremely soft, which had resulted in Talbots becoming saddled with excess inventory that could not be sold at full price; and (ii) Talbots could not keep pace with its competitors without turning to the dramatic and widespread promotional pricing that defendants had stated the Company would not have to resort to.
On January 11, 2011, Talbots provided a Business Update and reported that quarter-to-date top line sales were down approximately 7% versus the fourth quarter of the prior year and the Company's previously announced expectation for fourth quarter top-line sales in the range of flat to down low-single digits. Additionally, quarter-to-date comparable store sales were down approximately 6%. On this news, Talbots' common stock dropped 17.4% to close at $6.25.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
