House & Home
Mon, February 27, 2012
NEW YORK--([ BUSINESS WIRE ])--Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Kenneth Cole Productions (aKenneth Colea or the aCompanya) (NYSE: KCP) (ISIN: US1932941057) concerning the proposed acquisition of Kenneth Cole by its Founder and Chairman, Kenneth Cole, (aChairman Colea) in a cash transaction valued at approximately $280 million.
The investigation concerns whether the Kenneth Cole directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Kenneth Cole shareholders would receive $15.00 in cash per share of Kenneth Cole common stock. However, the Companyas stock has traded as high as $16.00 per share today and at least one analyst has set a target price of $17.00 per share. Additionally, Chairman Cole owns 47% of the stock representing 89% of the voting power.
Kenneth Cole shareholders seeking more information about this acquisition are advised to contact Rebecca Jarmon at [ rjarmon@pomlaw.com ] or 212-661-1100 or 888-476-6529, ext. 314.
The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See [ www.pomerantzlaw.com ].