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...
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