Talbots Hit With Shareholder Suit Over Aeon Deal

Law360, New York (January 14, 2010, 6:46 PM EST) -- A The Talbots Inc. shareholder has launched a proposed class action accusing the company's board of directors of breaching its fiduciary duties with 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.

John Campbell sued Talbots, along with Aeon and Perella Weinberg Partners LP, which served as financial adviser to the independent audit committee of the company's board of directors, in the Delaware Court of Chancery on Tuesday.

The suit...
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