The Talbots, Inc.

Lead Plaintiff Deadline: 04/04/11

Date filed:

Class period:

Court:

NASDAQ:

(NYSE: TLB)

Date Filed: February 03, 2011

Class Period: December 08 – January 11, 2011

Court: District of Massachusetts

On February 03, 2011, a securities class action complaint was filed in the United States District Court for the District of Massachusetts against The Talbots, Inc. (“Talbots” or the “Company”) and certain of its executive officers, alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, during the alleged class period of December 08, 2009 through January 11, 2011.

Talbots, based in Hingham, Massachusetts, is a specialty retailer and direct marketer of women’s apparel, accessories and shoes.  As alleged in the complaint, defendants failed to disclose material adverse facts about the Company’s true financial condition, business, and prospects throughout the class period, including that: (i) demand for the Company’s full-price inventory was weak, which resulted in the Company carrying excess inventory that could not be sold at full price; (ii) Talbots had to resort to widespread promotional pricing in order to keep pace with its competitors, which the Company previously stated it would not have to do; and (iii) as a result of the above, defendants knew that the profit and revenue numbers that they forecast to the market were illusory and unattainable.

On January 11, 2011, Talbots provided a “Business Update,” in which the Company reported that quarter-to-date top line sales were down approximately 7% versus the fourth quarter of the prior year, and quarter-to-date comparable store sales were down approximately 6%.

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