DENVER, Jan. 13, 2010 (GLOBE NEWSWIRE) -- The law firm of Dyer & Berens LLP (www.DyerBerens.com) announced today that it has initiated an investigation concerning potential claims against certain directors and officers of Carter's, Inc. ("Carter's" or the "Company") (NYSE:CRI) for breaches of their fiduciary duties. The investigation is related to the Company's previously-announced restatement of its financial results.
On December 23, 2009, the Company announced that its audit committee's investigation had uncovered "irregularities" involving employees intentionally not disclosing accommodation arrangements with customers to the Company's finance organization and intentionally providing inaccurate documentation and explanations regarding accommodations. The investigation also found significant deficiencies and weaknesses in the Company's internal controls. As a result of the foregoing, the Company now reportedly faces an inquiry by the United States Attorney's Office and shareholder lawsuits.
If you are a long-term Carter's shareholder and believe you were harmed by the conduct described above, or if you have information relevant to the investigation, you may contact Jeffrey A. Berens, Esq. at 1-888-300-3362, Ext. 302 or via email at jeff@dyerberens.com.
The law firm of Dyer & Berens LLP focuses on complex class action litigation on behalf of injured investors throughout the nation. For more information about the firm, please go to www.DyerBerens.com.