Shareholders, Talbots Reach $34M Deal In Aeon Suit

Law360, New York (October 29, 2010, 1:51 PM EDT) -- The Talbots Inc. has agreed to a $3.75 million class settlement in shareholder litigation 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.

In an 8-K filing with the U.S. Securities and Exchange Commission on Thursday, Talbots said the defendants in the case, excluding the company and Aeon, would pay the $3.75 million directly to Talbots. In addition, Talbots agreed to pay up to $3.5 million in legal fees...
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