SOURCE: Kahn Swick & Foti, LLC

December 14, 2010 00:04 ET

Kahn Swick & Foti, LLC and Former Louisiana Attorney General Continue Investigation Into J. Crew Group, Inc. Proposed Acquisition by TPG Capital and Leonard Green & Partners for $3 Billion -- JCG

NEW ORLEANS, LA--(Marketwire - December 14, 2010) - Kahn Swick & Foti, LLC ("KSF") and Former Attorney General of Louisiana, Charles C. Foti, Jr., continue to investigate J. Crew Group, Inc. ("J. Crew" or the "Company") (NYSE: JCG) and its acquisition by TPG Capital and Leonard Green & Partners. The new owners plan to work with J. Crew CEO Millard Drexler, who will continue to head the company and will retain a "significant equity investment." 

KSF's investigation will revolve around whether the J. Crew board has undertaken a fair process in obtaining fair consideration for J. Crew shareholders. As reported by the WSJ on December 7, 2010, "Drexler was negotiating a potential sale of the clothing company for nearly seven weeks before he informed the company's board of his talks, according to the latest company securities filings." This news comes after the WSJ reported last week that Drexler had purchased a cattle ranch in the New York resort community of Montauk for $11.4 million.

If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free 1-877-515-1850, after hours via cell phone 504-301-7900, or KSF Director of Client Relations, Neil Rothstein, Esq. (neil.rothstein@ksfcounsel.com), toll free at 877-694-9510, or after hours via cell phone 330-860-4092.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders. Recent cases include In re Virgin Mobile USA IPO Litigation, 2:07-cv-05619-SDW-MCA (D. N.J.), Co-Lead Counsel, $19.5 Million Settlement Preliminarily Approved; In re BigBand Networks, Inc. Securities Litigation, 3:07-CV-05101-SBA (C.D. Cal.), Co-Lead Counsel, $11 million settlement; In re U.S. Auto Parts Networks, Inc. Securities Litigation, 2:07-cv-02030-GW-JC (C.D. Cal.), Lead Counsel, $10 million settlement. KSF is also federally court-appointed Co-Lead Counsel in THE shareholder derivative cases against AIG and Bank of America (Merrill Lynch merger) emanating from their recent multi-billion dollar economic declines.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact Information

  • Contact:
    Kahn Swick & Foti, LLC
    Lewis Kahn, Esq.
    877-515-1850
    Cell 504-301-7900
    206 Covington St.
    Madisonville, LA 70447