September 19, 2008
Labaton Sucharow Files Class Action Lawsuit Against Carter's, Inc.
NEW YORK (September 19, 2008) – Labaton Sucharow LLP filed a class action lawsuit on September 19, 2008 in the United States District Court for the Northern District of Georgia, on behalf of all purchasers of the securities of Carter's, Inc. ("Carter's" or the "Company") (NYSE: CRI) between February 21, 2006 and July 24, 2007, inclusive. The lawsuit was filed against Carter's and certain officers and directors ("Defendants").
If you bought Carter’s securities anytime between February 21, 2006 through and including July 24, 2007, and would like to consider serving as lead plaintiff or have any questions about the lawsuit, please contact (800)-321-0476. Lead Plaintiff motion papers must be filed with the United States District Court for the Northern District of Georgia no later than November 18, 2008. A lead plaintiff is a court-appointed representative for absent class members. You do not need to seek appointment as lead plaintiff to share in any class recovery in this action. If you are a class member and there is a recovery for the class, you can share in that recovery as an absent class member. You may retain counsel of your choice to represent you in this action.
If you are a member of this class you can view a copy of the complaint and join this class action online at http://www.labaton.com/en/cases/Newly-Filed-Cases.cfm
This action seeks to pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”). Specifically, the complaint alleges that Defendants issued materially false and misleading statements about their ability to turn the operations of acquired company Oshkosh B’Gosh around. On July 24, 2007, Carter’s announced that it was taking a large write-down ($142.9 million) on the tangible assets/goodwill of its OshKosh subsidiary. The Carters shares reacted negatively to the news, falling from $24.87 to $22.75 per share by the end of trading on July 25, 2007, representing an 8.5 percent decline in value.
More information about Labaton Sucharow is available at www.labaton.com.