The Children's Place Retail Stores, Inc.

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Copyright (c) 2001
Stanford Law School

The Children's Place Retail Stores, Inc. Summary: According to a law firm press release, a class action complaint was filed against the defendants for violations of the Securities Exchange Act of 1934.

The complaint charges The Children's Place and certain of its officers and directors with violations of the Exchange Act. The Children’s Place, through its subsidiaries, operates as a specialty retailer of merchandise for children from newborn to ten years of age. The Company designs, contracts to manufacture, and sells apparel and accessories, and other children’s-oriented merchandise under The Children’s Place and Disney Store brand names.

According to the complaint, during the Class Period, defendants issued materially false and misleading statements that misrepresented and failed to disclose: (i) that the Company was experiencing difficulties meeting certain deadlines for the remodeling and maintenance of its Disney stores and Disney was not satisfied with the Company’s performance under their agreement; (ii) that, as a result of the Company’s performance issues, the Company’s exclusive ability to contract, manufacture, source, offer and sell merchandise featuring Disney-branded characters, past, present and future was at risk of being materially altered and/or lost completely; and (iii) as a result of the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company, its prospects and revenue growth.

On August 23, 2007, the Company announced, among other things, its preliminary fiscal 2007 second quarter financial results, the Company’s revised earnings guidance and an update regarding its license agreement with the Walt Disney Company. Specifically, the Company revealed that it will no longer have an exclusive license agreement with Disney and that certain executives violated Company policies and procedures with regard to the Company's stock option granting process. In response to this announcement, shares of the Company’s common stock fell $5.59 per share, or 17%, to close at $27.43 per share, on heavy trading volume.

On December 17, 2007, an order on the consolidation of the actions as well as the appointment of lead plaintiffs and the selection of lead counsels was entered. The above mentioned order appointed the Northern Nevada Laborers Fund as lead plaintiff and the law firm of Coughlin Stoia Geller Rudman & Robbins LLP as lead counsel. On February 28, 2008, a consolidated amended complaint was filed. A motion to dismiss plaintiff’s complaint was filed by an individual on March 28, 2008. However, an opinion and order denying the defendants’ motion to dimiss was entered on July 18, 2008 by Judge Shira A. Scheindlin. Lastly, a stipulation and scheduling order was entered on August 01, 2008, which set a final pretrial conference for July 30, 2009 at 04:30 pm before Judge Shira A. Scheindlin.

On November 2, 2009, an order allocating attorney's fees and expenses was granted in this case.

On Novemebr 09, 2009, a Judgment was issued by the court in this case announcing plaintiffs' counsel is awarded attorneys' fees and costs of $1,800,000 as adequate compensation.

INDUSTRY CLASSIFICATION:
SIC Code: 5651
Sector: Services
Industry: Retail (Apparel)

COMPANY/ISSUER NAME:	The Children's Place Retail Stores, Inc.
COMPANY/ISSUER TICKER:	PLCE
COMPANY WEBSITE:	http://www.childrensplace.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Hall, et al. v. The Children's Place Retail Stores, Inc., et al.

COURT: S.D. New York	DOCKET NUMBER: 07-CV-08252
JUDGE NAME: Hon. Shira A. Scheindlin
DATE FILED: 09/21/2007	SOURCE: Notice of Filing
CLASS PERIOD START: 08/03/2006	CLASS PERIOD END: 08/23/2007
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Brodsky & Smith, LLC (former Pennysylvania) 11 Bala Avenue, Suite 39, Bala Cynwyd, PA, 19004 (voice) 610.668.7987, (fax) 610.660.0450, esmith@Brodsky-Smith.com Coughlin Stoia Geller Rudman & Robbins LLP (Melville) 58 South Service Road, Suite 200, Melville, NY, 11747 (voice) 631.367.7100, (fax) 631.367.1173, info@csgrr.com/ Schiffrin Barroway Topaz & Kessler, LLP (Radnor) 280 King of Prussia Road, Radnor, PA, 19087 (voice) 610.667.7706, (fax) 610.667.7056, info@sbtklaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint For Violations Of Federal Securities Laws - Jury Trial Demanded
Type: Complaint		Date on the document: 9/21/2007
Notice Of Motion For Consolidation, Appointment As Lead Plaintiff And For Approval Of Selection Of Lead Counsel
Type: Motion		Date on the document: 11/20/2007
Order Consolidating The Actions, Appointing Lead Plaintiff And Approving Selection Of Lead Counsel
Type: Order		Date on the document: 12/17/2007

REFERENCE COMPLAINT

Hall, et al. v. The Children's Place Retail Stores, Inc., et al.

COURT: S.D. New York	DOCKET NUMBER: 07-CV-08252
JUDGE NAME:
DATE FILED: 02/28/2008	SOURCE: Docket
CLASS PERIOD START: 08/03/2006	CLASS PERIOD END: 08/23/2007
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Coughlin Stoia Geller Rudman & Robbins LLP (Melville) 58 South Service Road, Suite 200, Melville, NY, 11747 (voice) 631.367.7100, (fax) 631.367.1173, info@csgrr.com/ _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Amended Class Action Complaint For Violations Of Federal Securities Laws
Type: Complaint		Date on the document: 2/28/2008
Notice Of Motion
Type: Notice		Date on the document: 3/28/2008
Opinion And Order
Type: Order		Date on the document: 7/18/2008
Stipulation And Scheduling Order
Type: Order		Date on the document: 7/31/2008
US District Court Civil Docket
Type: Docket		Date on the document: 7/31/2008
Order Preliminarily Approving Settlement and Providing for Notice
Type: Order		Date on the document: 07/17/2009
Opinion And Order
Type: Order		Date on the document: 11/02/2009
Judgment
Type: Order		Date on the document: 11/09/2009
U.S. District Court Civil Docket
Type: Docket		Date on the document: 11/09/2009

OTHER DOCUMENTS
Class Action Complaint - Jury Trial Demanded
Case Name and/or Number: David Salkin, et al. v. The Children's Place Retail Stores, Inc., et al.
Type: Complaint		Date on the document: 10/09/2007

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