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Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Kenneth Cole Productions, Inc. (“Kenneth Cole Productions” or the “Company”) (NYSE: KCP) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Kenneth D. Cole, the Chairman and Chief Creative Officer of the Company who currently owns approximately 47% of the common stock (representing approximately 89% of the voting power) of the Company, in an all-cash deal valued at about $280 million. Under the terms of the proposed transaction, Kenneth Cole Productions stockholders will receive $15 in cash for each share of Kenneth Cole Productions common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $17 for Kenneth Cole Productions.
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Whether Kenneth Cole Productions’ Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Kenneth Cole Productions’ shares and by how much this proposed transaction undervalues the Company to the detriment of Kenneth Cole Productions’ shareholders are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.
If you own common stock in Kenneth Cole Productions and wish to obtain additional information, please visit us at
www.faruqilaw.com/KCP or contact Juan E. Monteverde, Esq. either via e-mail at
firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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