Children's Clothing Giant Hit With Securities Fraud Suit

Law360, New York (September 23, 2008, 12:00 AM EDT) -- Things are not looking so cute for children's clothing haven Carter's Inc., which is facing a purported securities fraud class action accusing it of hiding the troubles that struck the company after it bought OshKosh B'Gosh Inc. in 2005.

In a suit filed Friday in the U.S. District Court for the Northern District of Georgia, Plymouth County Retirement System alleges that Carter's belated disclosure of the company's declining financial situation caused its stock price to drop from $24.87 per share to $22.75.

Additionally, the suit accuses...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.