Notice of Filing Securities Class Action Against Carter's, Inc.

LOS ANGELES, Oct. 3 /PRNewswire/ -- Notice is hereby given that Glancy Binkow & Goldberg LLP, representing investors who purchased Carter's, Inc., has filed a Class Action lawsuit in the United States District Court for the Northern District of Georgia on behalf of a class (the "Class") consisting of all purchasers of the securities of Carter's, Inc. ("Carter's" or the "Company") between February 21, 2006 and July 24, 2007, inclusive (the "Class Period").

A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or to obtain a copy of the Complaint at [phone] or Toll Free at [phone], by email at [e-mail], or visit our website at http://www.glancylaw.com/.

The Complaint charges Carter's and certain of the Company's executive officers and directors with violations of federal securities laws. Among other things, plaintiff claims that defendants' material omissions and dissemination of materially false and misleading statements concerning the Company's operations and prospects caused Carter's stock price to become artificially inflated, inflicting damages on investors. Carter's designs, sources and markets apparel for babies and young children in the United States, primarily under the Carter's, Child of Mine, Just One Year, and OshKosh brand names. In 2005, Carter's, through its wholly-owned subsidiary, The William Carter Company, acquired all of the outstanding common stock of the young children's apparel company OshKosh B'Gosh, Inc. ("OshKosh"). The Complaint alleges that throughout the Class Period defendants knew or recklessly disregarded that their public statements concerning Carter's financial performance and prospects were materially false and misleading. Specifically, the Complaint alleges that defendants' public statements failed to disclose or indicate significant setbacks the Company was experiencing in attempting to integrate OshKosh into Carter's core business. The Complaint further alleges that the Company made positive but misleading statements throughout the Class Period concerning problems with the integration of OshKosh and the probability of resolving these issues successfully.

Investors were belatedly made aware of the failure of the OshKosh integration, and on July 24, 2007, Carter's announced that it was taking a write-down of $142.9 million on the intangible assets/goodwill of its OshKosh subsidiary. As a result of this disclosure, the Company's stock fell from $24.87 per share to $22.75 per share on heavy volume.

Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg LLP. If you are a member of the Class described above, you may move the Court, not later than November 18, 2008, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at [phone] or Toll Free at [phone] or by e-mail to [e-mail].