House & Home
Fri, February 24, 2012
WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of Kenneth Cole Productions, Inc. (aKCPa or the aCompanya) (NYSE: [ KCP ]) concerning possible breaches of fiduciary duty and other violations of law related to the going-private proposal made by the Companyas controlling shareholder, Chairman, and Chief Executive Officer, Kenneth D. Cole (aColea) to acquire and take private KCP in a transaction valued at approximately $280 million or $15.00 per share.
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Under the terms of the going private proposal, public shareholders of KCP will receive $15.00 per share in cash for each share of KCP they own. Cole announced that he would otherwise not otherwise sell his interest in the Company nor would he vote in favor of an alternative sale, merger, or similar transaction involving the Company.
The investigation concerns whether KCPas board of directors failed to adequately shop the Company and obtain the best price possible for KCPas public, minority shareholders before entering into an agreement with Cole.
If you own the common stock of KCP and purchased your shares before February 24, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact [ Scott J. Farrell, Esquire ]of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to [ info@rigrodskylong.com ], or at: [ http://www.rigrodskylong.com/investigations/kenneth-cole-productions-inc-kcp ]
[ Rigrodsky & Long, P.A. ], with offices in Wilmington, Delaware and Garden City, New York, regularly litigates [ securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation ], including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
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