NEW YORK, NY -- (Marketwire) -- 07/21/09 -- Levi & Korsinsky, LLP announces that a class action lawsuit has been filed in the Delaware Chancery Court challenging the proposed acquisition of Tween Brands Inc. ("Tween Brands" or the "Company") (NYSE: TWB).

The Complaint arises out of the announcement by Tween Brands stating that it had entered into a definitive merger agreement with Dress Barn Inc. ("Dress Barn") (NASDAQ: DBRN). Under the terms of the agreement, shareholders of Tween Brands will receive 0.47 shares of Dress Barn stock for each share of Tween Brands they own. Based on Dress Barn's June 24, 2009 closing stock price of $13.24, the agreement values Tween Brands shares at $6.22 per share. The price appears unfair given that Tween Brands shares traded above $9.00 per share as recently as the fourth quarter of 2009 and the Company has a book value of over $7.00 per share. Also, the sales process the Company conducted was flawed because the Company agreed to a non-solicitation provision and a termination fee of $5.15 million that will all but ensure that no superior offer will ever be forthcoming.

If you own common stock in Tween Brands and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/twb1.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.