Talbots Reaches Stipulation Allowing For Aeon Deal

Law360, New York (March 9, 2010, 7:20 PM EST) -- The Talbots Inc. revealed Tuesday it had reached a stipulation in a shareholder suit over a deal to cut the retailer's debt by $330 million and buy back the stake majority stockholder Aeon (U.S.A.) Inc. has in the clothing chain, allowing the deal to go through.

Talbots cautioned that the stipulation did not constitute a dismissal, settlement or withdrawal of the case, “and there is no assurance the parties will finally settle and discharge such claims,” according to a form 8-K filing with the U.S. Securities...
To view the full article, register now.