NEW YORK, Feb. 24, 2012 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, notifies investors of Kenneth Cole Productions, Inc. (NYSE: KCP) of potential claims of breaches of fiduciary duty and other violations of state law against Kenneth Cole and the board of directors of KCP in connection with the potential sale of the company to Kenneth Cole. It was announced that Mr. Cole intends to acquire all of the outstanding common stock of KCP that he does not currently own for $15 per share in cash. He currently owns 47%, of the outstanding shares of common stock of KCP (representing approx. 89% of the voting power).
The investigation concerns whether the KCP Board of Directors, as well as Mr. Cole breached their fiduciary duties to stockholders by failing to adequately shop the company and whether Mr. Cole is underpaying for KCP's shares, thus unlawfully harming stockholders. Indeed, analysts have projected that the true going forward value of KCP is worth at least $17 per share.
If you own KCP common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contactTripp LevyTripp Levy PLLC125 East 82nd Street9th Floor New York, New YorkToll Free: 877-772-3975Email: firstname.lastname@example.org Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome. SOURCE Tripp Levy PLLC