According to a press release an investigation on behalf of investors in Children's Place Retail Stores, Inc. (NASDAQ: PLCE) over potential breaches of fiduciary duty and other violations of state law by the board of directors of The Children's Place Retail Stores, Inc. arising out of the alleged misconduct that took place at the Company beginning in March 2006 was announced.

According to the press release the investigation by the law firm focuses specifically, 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.