Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Collective Brands, Inc. (“Collective Brands” or “the Company”) (NYSE: PSS) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by a consortium comprised of Wolverine Worldwide (NYSE: WWW), Blum Capital Partners and Golden Gate Capital (collectively, “Wolverine”) in a transaction valued at $21.75 per share in cash, or a total of approximately $2.0 billion, including the assumption of debt. The deal is expected to close late in the third quarter or early in the fourth quarter of the current calendar year.

Click here to learn more: http://www.rigrodskylong.com/investigations/collective-brands-inc-pss.

The proposed acquisition price of $21.75 represents only a minuscule premium over the Company’s 52-week high of $21.26. The investigation concerns whether Collective Brands’ board of directors failed to adequately shop the Company and to get the best price possible for Collective Brands’ shareholders before entering into the agreement with Wolverine.

If you own the common stock of Collective Brands and purchased your shares before May 1, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Scott J. Farrell, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to info@rigrodskylong.com, or at http://www.rigrodskylong.com/investigations/collective-brands-inc-pss.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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