Robbins Umeda LLP Announces An Investigation Of Kenneth Cole Productions, Inc.
Shareholder rights firm Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by members of the board of directors of Kenneth Cole Productions, Inc. (NYSE: KCP) in connection with their efforts to sell the company to the company's Chairman and Chief Creative Officer Kenneth D. Cole. Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Gregory E. Del Gaizo at (800) 350-6003, email@example.com, or via the shareholder information form on the firm's website.
On February 27, 2012, Mr. Cole announced that he had proposed to take Kenneth Cole Productions private. Pursuant to the proposal, Kenneth Cole Productions shareholders will receive $15.00 for each share of the company they own.
Robbins Umeda LLP's investigation focuses on whether Kenneth Cole Productions' board is undertaking a fair process to obtain maximum value and adequately compensate shareholders in light of the company's recent positive financial results. In November 2011, Kenneth Cole Productions reported financial results for the third quarter of fiscal year 2011 that beat analyst expectations. The company reported an EPS of $0.31, while analysts polled by Bloomberg had only been expecting EPS of $0.22. In addition, at least two market analysts have released a target price for Kenneth Cole Productions that values the company's stock at $16.00 and $17.00, respectively, both higher than the value being offered by Mr. Cole as a part of the proposed transaction.
Robbins Umeda attorneys highlight that Kenneth Cole Productions shareholders have the option to file a class action lawsuit against the company to secure the best possible price for the company's shareholders and the disclosure of material information to shareholders so they can vote on the transaction in an informed manner.Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsumeda.com. Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/kenneth-cole-productions/ Attorney Advertising. Past results do not guarantee a similar outcome.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV