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Judge Allows Children's Place Fraud Suit To Go On

Law360 (July 22, 2008, 12:00 AM EDT) -- A federal judge has denied a move by The Children's Place Retail Stores Inc. to dismiss a lawsuit filed by shareholders claiming securities fraud.

Judge Shira A. Scheindlin of U.S. District Court for the Southern District of New York ruled that the plaintiffs in the class action have provided enough evidence for a trial to go forward.

The plaintiffs allege that the company, former Chief Executive Officer Ezra Dabah and former Chief Financial Officer Susan Riley made false claims about the business in order to pump...
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