Children’s Place Offers $12M To End Securities Case

Law360, New York (June 29, 2009, 12:00 AM EDT) -- The Children’s Place Retail Stores Inc. has offered to shell out $12 million to put to bed a securities fraud class action brought by shareholders accusing the company and its officers of making false claims about the business in order to pump up the stock.

The lead plaintiffs on Friday asked the U.S. District Court for the Southern District of New York to grant preliminary approval to a proposed settlement in the securities case, in which the Secaucus, N.J.-based children’s clothing retailer has agreed to pay...
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