Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of K-Swiss, Inc. (“K-Swiss” or the “Company”) (Nasdaq: KSWS) relating to the proposed acquisition by E.Land World Ltd. (“E.Land”). Under the terms of the transaction, K-Swiss shareholders will receive only $4.75 in cash for each share of K-Swiss stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of K-Swiss for not acting in the Company’s shareholders' best interests in connection with the sale process to E.Land. The transaction may undervalue the Company and will result in loss for many long term K-Swiss shareholders. For example K-Swiss stock traded at $12.39 as recently as April 27, 2011 and an analyst has set a price target for K-Swiss stock at $5.60 per share. If you own shares of K-Swiss stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org visiting http://brodsky-smith.com/528-ksws-k-swiss-inc.html, by calling toll free 877-LEGAL-90.
Shares of K-Swiss (Nasdaq:KSWS) were gapping down Thursday morning with an open price 10.2% lower than Wednesday's closing price. The stock closed at $10.23 yesterday and opened today's trading at $9.19.