Finkelstein Thompson LLP Announces Investigation of Kenneth Cole Productions, Inc.
28 Fevereiro 2012 - 6:15PM
Business Wire
Finkelstein Thompson LLP is investigating potential claims on
behalf of shareholders of Kenneth Cole Productions, Inc. (“Cole” or
“the Company”) (NYSE: KCP), concerning a recent going-private offer
by Kenneth Cole, the Company’s founder, Chairman, and largest
shareholder. Under the terms of the transaction, Cole shareholders
would receive $15.00 per share in a deal worth approximately $144
million, excluding shares already held by Mr. Cole.
Cole shares have performed extremely well in recent months,
rising almost $3.00 between December 29 and February 23, an
increase of over 27%. The deal represents only about a 15% premium
to the pre-offer closing price of $13.07. At least two analysts
have set target prices of $16.00 to $17.00 for the Company’s
shares.
In addition to the questionable consideration offered to
shareholders, the offer raises concerns about Mr. Cole’s influence
on the sale process. Mr. Cole holds about 47% of the Company’s
shares, and about 89% of its voting power. He stated in his offer
letter that he would not support any deal to sell the company to a
different acquirer, which may effectively block any competing offer
from receiving serious consideration.
If you are interested in discussing your rights as a Cole
shareholder, or have information relating to this investigation,
please contact Finkelstein Thompson's Washington, D.C. offices at
(877) 337-1050 or by email at contact@finkelsteinthompson.com.
Finkelstein Thompson LLP has spent over three decades delivering
outstanding representation to institutional and individual clients
in financial litigation, and has been appointed as lead or co-lead
counsel in dozens of shareholder class actions. Indeed, the firm
has served in leadership roles in cases that have recovered over $1
billion for investors and consumers.
To learn more about Finkelstein Thompson LLP, please visit our
website at www.finkelsteinthompson.com. Attorney advertising. Prior
results do not guarantee similar outcomes.
Kenneth Cole Prod In (NYSE:KCP)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Kenneth Cole Prod In (NYSE:KCP)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024
Notícias em tempo-real sobre Kenneth Cole Productions, Inc. da New York Stock Exchange bolsa de valores: 0 artigos recentes
Mais Notícias de Finkelstein Thompson LLP