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By
Reuters
Published
Jun 27, 2009
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Children's Place to pay $12 mln to settle lawsuit

By
Reuters
Published
Jun 27, 2009

June 26 (Reuters) - Children's Place Retail Stores Inc (PLCE.O) said it would pay $12 million to settle a class action suit that alleged its officers of misrepresenting facts about operations that caused the company's stock to artificially inflate.

Children's Place

The company said it denied all allegations made in the suit and decided to settle the suit to eliminate further litigation and related expenses.

The children's clothing retailer said the cost of the settlement would be covered by insurance. (Reporting by Vidya Lakshmi in Bangalore; Editing by Gopakumar Warrier)

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