Feb. 27, 2012
/PRNewswire/ -- Former United States Securities and Exchange Commission attorney
and the securities litigation firm of
Powers Taylor, LLP
are investigating potential claims against the Board of Directors of Kenneth Cole Productions, Inc. ("
" or "KCP") (NYSE: KCP) concerning the board's receipt of an unsolicited acquisition proposal from
's current Chairman of the Board and CEO,
Kenneth D. Cole
. Under the acquisition proposal, Chairman Cole seeks to acquire the remaining shares of
that he does not own for
per share in a proposed going private transaction valued at approximately
If you are an affected investor, and you want to learn more about the investigation or if you have information that you believe would be helpful to the determination of the fairness of the proposed transaction, contact
at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at
. There is no cost or fee to you.
Chairman Cole currently owns approximately 47% of the outstanding shares of
common stock, which represents approximately 89% of the voting power. Under the going private proposal, Chairman Cole seeks to acquire all of the outstanding shares of
common stock for
per share. The investigation centers on whether
's Board of Directors is acting in the shareholders' best interests, whether the board is properly negotiating a higher share price for the shareholders, and whether the board has employed an adequate process to review and act on the proposed transaction.
"Because Mr. Cole is not only the Chairman of the Board, but also the Chief Executive Officer of
and an owner of approximately 47% of the company's outstanding shares, our investigation is focused on whether the price offered is below the inherent value of
/KCP stock," said shareholder rights attorney
shares traded as high as
per share as recently as
August 5, 2011
, and at least one analyst has set a target price of
per share for
/KCP stock. "Based on these and other factors, we are concerned whether
's Board of Directors is doing everything possible to maximize shareholder value and negotiate a better price for the shareholders," said Briscoe.
The Briscoe Law Firm, PLLC
is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP
is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.