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Case Status:    SETTLED
On or around 05/26/2000 (Date of order of final judgment)

Filing Date: October 21, 1997

On May 26, 2000, the Court entered the Substitute Order and Final Judgment signed by U.S. District Judge John C. Lifland. The Court awarded plaintiffs’ counsel attorney fees from the Settlement and the case was closed. On February 15, 2001, the Court further entered the Order approving the distribution of the Settlement Fund.

According to the firm's 10-K filing dated 4/28/2000, the Company has reached an agreement in principle to resolve the federal
securities class action litigation which was filed against the Company and
others in the United States District Court for the District of New Jersey and
the securities litigation filed in Superior Court of New Jersey, Essex County
Division. The proposed settlements provide for the payment of $1.7 million in
the aggregate and would be funded entirely from insurance proceeds. The proposed
federal action settlement requires court approval.

As reported in the firm's 10-Q filing dated 9/14/1999, on October 16, 1997, Stephen Brosious and Rudy Pallastrone, who allegedly
purchased shares of the Company's common stock in an initial public offering in
September, 1997 (the "IPO"), filed a lawsuit against the Company, several of the
Company's directors and officers, and the underwriters of the IPO (the
"Defendants") in the United States District Court of the District of New Jersey
(the "Court"). The named plaintiffs purport to maintain a class action on behalf
of all persons, other than the Defendants, who purchased the Company's common
stock issued in connection with the IPO on or about September 19, 1997 through
October 13, 1997. The complaint alleges that the Defendants violated federal
securities laws by making materially false or misleading statements and/or
omissions in connection with the IPO. The plaintiffs seek monetary damages of an
unspecified amount, rescission or rescissory damages and fees and costs. Since
October 16, 1997, 15 additional putative class actions making substantially
similar allegations and seeking substantially similar relief have been filed
against some or all of the Defendants. On or about January 13, 1998, the 16
putative class actions were consolidated in the Court and on February 26, 1998,
the plaintiffs served and filed their amended consolidated complaint. On April
16, 1998, the Defendants moved to dismiss the complaint. On September 4, 1998,
the Court entered an Order granting the motion to dismiss in part and denying it
in part. The Court also dismissed the case against the underwriters without
prejudice. On October 5, 1998, the plaintiffs filed an amended complaint against
all defendants including the underwriters. The Company filed its answer to the
amended complaint on October 26, 1998. On August 23, 1999, the Court entered an
Order granting in part and denying in part plaintiffs' motion for class
certification. Defendants have filed a motion for reconsideration of that
portion of the Order granting plaintiffs' motion. Discovery is ongoing.

The original complaint alleges that in connection with Children's Initial Public Offering on Sept. 18, 1997, Children's and three of its senior officers violated Sections 11 and 15 of the Securities Act of 1933 by issuing a materially false and misleading Registration Statement and Prospectus. The complaint charges defendants with concealing and misrepresenting facts concerning Children's new store sales and third quarter financial results.

COMPANY INFORMATION:

Sector: Services
Industry: Retail (Apparel)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PLCE
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. New Jersey
DOCKET #: 97-CV-5021
JUDGE: Hon. John C. Lifland
DATE FILED: 10/21/1997
CLASS PERIOD START: 09/19/1997
CLASS PERIOD END: 10/13/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Goldstein Lite & DePalma LLC
    Two Gateway Center, 12th Floor, Goldstein Lite & DePalma LLC, NJ 07102
    ·
No Document Title Filing Date
COURT: D. New Jersey
DOCKET #: 97-CV-5021
JUDGE: Hon. John C. Lifland
DATE FILED: 02/26/1998
CLASS PERIOD START: 09/19/1997
CLASS PERIOD END: 10/13/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Barrack Rodos & Bacine (former Haddonfield , NJ)
    14 Kings Highway West, Barrack Rodos & Bacine (former Haddonfield , NJ), NJ 08033
    856.354.070 ·
  2. Cohn, Lifland, Pearlman, Herrmann & Knopf
    Park 80 Plaza West-One, Cohn, Lifland, Pearlman, Herrmann & Knopf, NJ 7663
    201845.9600 · info@njlawfirm.com
  3. Epstein, Fitzsimmons, Brown, Ringle, Gioia & Jacobs
    245 Green Village Road - P.O. Box 901, Epstein, Fitzsimmons, Brown, Ringle, Gioia & Jacobs, NJ 07928
    973.593.4900 ·
  4. James V. Bashian
    500 Fifth Ave Ste 2800, James V. Bashian, NY 10110
    ·
  5. Kalikman and Masnik
    30 Washington Avenue, Kalikman and Masnik, NJ 08033
    ·
  6. Lite DePalma Greenberg, LLC (Newark)
    Two Gateway Center - 12th Floor, Lite DePalma Greenberg, LLC (Newark), NJ 07102-5003
    973.623.3000 ·
  7. Schwartz, Barkin & Mitchell
    11L0 Springfield Road - PO Box 1339, Schwartz, Barkin & Mitchell, NJ 07083-1339
    908.688.1644 ·
No Document Title Filing Date
No Document Title Filing Date