Shareholder Says $890M Lane Bryant Sale A Lousy Fit

Law360, New York (May 24, 2012, 5:28 PM EDT) -- The parent company of plus-size retailer Lane Bryant was hit with a putative class action in Pennsylvania federal court Wednesday by an investor seeking to derail the proposed $890 million sale of the fashion outfit to the owner of the popular Dress Barn brand.

Charming Shoppes Inc. announced plans on May 1st to merge with industry rival Ascena Retail Group Inc., prompting investor Judith Kaye Nadler to file suit over claims that the board of directors and CEO Michael Goldstein were not acting in the best...
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