NEW YORK, Feb. 24, 2012 /PRNewswire/ -- Harwood Feffer LLP ( www.hfesq.com) is investigating potential claims against the board of directors of Kenneth Cole Productions, Inc. ("Kenneth Cole Productions" or the "Company") (NYSE: KCP) concerning the offer by Kenneth D. Cole, the Company's Chairman and Chief Creative Officer, to take the Company private in a transaction valued at approximately $280 million.
On February 24, 2012, Mr. Cole announced his proposal to acquire the Company. Under the proposal, Company shareholders will receive $15.00 per share in cash. The offer price represents a scant 15% premium over the closing price of Company stock on the last trading day before the proposal was announced. Moreover, Mr. Cole current owns approximately 47% of the Company's common stock (representing approximately 89% of the voting power).
Our investigation concerns whether the board of directors is fulfilling its fiduciary duties, maximizing the value of Kenneth Cole Productions, disclosing all material benefits and costs and obtaining full and fair consideration for Company shareholders.If you own Kenneth Cole Production shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact: Robert I. Harwood, Esq. Benjamin Sachs-MichaelsHarwood Feffer LLP488 Madison Avenue New York, New York 10022Phone Numbers: (877) 935-7400 (212) 935-7400Email: firstname.lastname@example.org Website: http://www.hfesq.com Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website ( http://www.hfesq.com) for more information about the firm. Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP ( www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. SOURCE Harwood Feffer LLP