updated 12/27/2010 6:46:03 PM ET 2010-12-27T23:46:03

NEW ORLEANS, Dec. 27, 2010 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and its partner, the former Louisiana Attorney General Charles C. Foti, Jr. remind investors that they have only until February 22, 2011, to file lead plaintiff applications in a securities class action lawsuit in the United States District Court for the Southern District of New York on behalf of current shareholders of J. Crew Group, Inc. ("J. Crew" or the "Company") (NYSE:JCG) seeking to pursue remedies under Section 14(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and corresponding Rule 14a-9.

What You May Do

If you are a J. Crew shareholder and would like to discuss your legal rights and how this case might affect you, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free 877-515-1850, or via cell phone any time at 504-301-7900, or KSF Director of Client Relations, Neil Rothstein, Esq. (neil.rothstein@ksfcounsel.com), toll free at 877-694-9510, or via cell phone any time at 330-860-4092. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution including the possibility of a settlement, you must request this position by application to the Court by February 22, 2011. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. KSF encourages both institutional and individual purchasers of J. Crew to contact the firm. The ultimate resolution of any securities class action is strengthened through the involvement of aggrieved shareholders and lead plaintiffs who have large financial interests. KSF also encourages anyone with information regarding J. Crew's conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About the Lawsuit

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by issuing materially false and misleading statements concerning the proposed acquisition of J. Crew by TPG Capital and Leonard Green & Partners. The new owners plan to work with J. Crew CEO Millard Drexler, who will continue to head the company and will retain a "significant equity investment."

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders. Recent cases include In re Virgin Mobile USA IPO Litigation, 2:07-cv-05619-SDW-MCA (D. N.J.), Co-Lead Counsel, $19.5 Million Settlement; In re BigBand Networks, Inc Securities Litigation, 3:07-CV-05101-SBA (C.D. Cal.), Co-Lead Counsel, $11 million settlement;In re U.S. Auto Parts Networks, Inc. Securities Litigation, 2:07-cv-02030-GW-JC (C.D. Cal.),Lead Counsel, $10 million settlement. KSF is also federally court-appointed Co-Lead Counsel in THE shareholder derivative cases against AIG and Bank of America (Merrill Lynch merger) emanating from their recent multi-billion dollar economic declines.

To learn more about KSF, you may visit  www.ksfcounsel.com.

CONTACT:  Kahn Swick & Foti, LLC
          Lewis Kahn, Managing Partner
          877-515-1850
          after hours via cell phone 504-301-7900
          lewis.kahn@ksfcounsel.com
          206 Covington St.
          Madisonville, LA 70447

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