Ryan & Maniskas, LLP ( www.rmclasslaw.com/cases/pss) 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 efforts to sell Collective Brands to Wolverine World Wide Inc. in a transaction valued at approximately $1.32 billion.

Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Collective Brands. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/pss.

Under the terms of the agreement, Collective Brands shareholders will receive $21.75 for each share of Collective Brands stock they own.

If you own shares of Collective Brands and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/pss. You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

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