BOULDER, Colo., Nov. 11, 2009 (GLOBE NEWSWIRE) -- Advertising Material -- The Shuman Law Firm today announced that it is investigating potential claims on behalf of shareholders of Carter's, Inc. (NYSE:CRI) ("Carter's" or the "Company").
On October 26, 2009, Carter's announced that it would postpone its third-quarter results, on the grounds that "it needed more time to complete a review of its accounting for discounts offered to some wholesale customers." Then, on November 10, 2009, Carter's revealed that it would be restating its consolidated financial statements for the fiscal years 2004 through 2008, and the fiscal quarters from Sept. 29, 2007 through July 4, 2009.
Carter's share price has dropped nearly 25% since these accounting issues came to light. Carter's CEO Michael Casey stated that the Company was, "improving internal controls and management processes to help reduce risks inherent in this component of our business going forward." Mr. Casey was Carter's chief financial officer for the stated periods of restatement.
If you are interested in discussing your rights as a Carter's shareholder, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.
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