Kenneth Cole Productions KCP Shareholder Lawsuit Against Takeover Offer Announced by Kyros Pressly LLP
06 Mars 2012 - 3:32AM
Marketwired
Kyros Pressly LLP, a law firm that represents shareholders,
announces that an investor class action lawsuit has been brought in
the New York State Supreme Court against the board of directors of
Kenneth Cole Productions, Inc. (NYSE: KCP) for possible violations
of securities law.
Kenneth D. Cole, the CEO, is attempting to take KCP private,
which raises conflict of interest issues that may concern
shareholders.
Investors who own KCP stock are invited to contact Attorneys
Bill Kyros or George Pressly at 1-800-934-2921,
info@kyrospressly.com or visit our web site:
MergersAcquisitionsCenter.com
On February 27, 2012, Mr. Cole announced he wants to take
Kenneth Cole Productions private. Under the proposed deal Kenneth
Cole Productions will pay stockholders $15.00 for each share of the
KCP stock they own. Kenneth Cole Productions beat analyst
expectations in its most recent reported financial results for the
third quarter of fiscal year 2011. Some analysts set a target price
for Kenneth Cole Productions that values the company's stock at
$16.00 and $17.00, higher than the deal being offered by Mr. Cole
for outstanding shares of KCP stock.
The shareholder in the lawsuit is asking whether Kenneth Cole
Productions' board is conducting a fair process to obtain maximum
shareholder value.
Investors who are interested in protecting their rights have a
limited time in which to act. If you own shares of KCP and are
concerned about the fairness of this deal please call Attorneys
Bill Kyros or George Pressly at 1-800-934-2921.
Kyros & Pressly LLP is a Boston-based law firm with
significant experience representing investors in merger related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For info about our law firm please
visit our Kyros Pressly LLP web site.
Konstantine Kyros Attorney 1-800-934-2921 Email Contact
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