Harwood Feffer LLP Announces Investigation of Charming Shoppes, Inc.

NEW YORK, May 2, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Charming Shoppes, Inc. ("Charming Shoppes" or the "Company") (NASDAQ: CHRS) concerning the proposed acquisition of the Company by Ascena Retail Group, Inc. ("Ascena") in a transaction valued at approximately $890 million. 

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On May 2, 2012, it was announced that Charming Shoppes and Ascena have entered into a definitive agreement pursuant to which Ascena will acquire Charming Shoppes.  Under the agreement, Charming Shoppes shareholders will receive $7.35 per share in cash.  At least one analyst has set a target price for Company stock of $9.00 per share.

Our investigation concerns whether the Charming Shoppes board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders. 

If you own Charming Shoppes shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.

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SOURCE Harwood Feffer LLP