The Children's Place in Hot Water

According to PR-inside.com, an investigation has been launched on behalf of investors into alleged misconduct by senior management at The Children's Place dating back to early 2006.

According the the article:

...during this period, the senior management of Children's Place Retail Stores, Inc. ('Children's Place') are alleged to have knowingly and/or recklessly made material misrepresentations in the PLCE's filings with the SEC and to the investing public concerning Children's Place's business and financial results. Furthermore, so the investigation, Children's Place failed to disclose significant problems with a major business partner and that its former Chief Executive Officer and still current director, Ezra Dabah, knowingly violated established internal controls policies., and that Children's Place failed to adequately disclose, among other things, the backdating of option grants to certain members of Children's Place management.

We're sure this isn't the last we'll hear about this investigation and FMC will bring you all the details as we get them.