Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Collective Brands, Inc. (“Collective Brands” or the “Company”) (NYSE: PSS) (ISIN: US19421W1009) concerning the proposed acquisition of Collective Brands by a consortium comprised of Wolverine Worldwide, Blum Capital Partners and Golden Gate Capital in a cash transaction valued at approximately $2 billion.

The investigation concerns whether the Collective Brands directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Collective Brands shareholders would receive $21.75 in cash per share of Collective Brands common stock. However, the offer price is at a discount to total assets.

Collective Brands shareholders seeking more information about this acquisition are advised to contact Rebecca Jarmon at rjarmon@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 314.

The Pomerantz Firm, with offices in New York and Chicago, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.

Copyright Business Wire 2010