SOURCE: Kyros Pressly LLP

Kyros Pressly LLP

March 05, 2012 21:32 ET

Kenneth Cole Productions KCP Shareholder Lawsuit Against Takeover Offer Announced by Kyros Pressly LLP

BOSTON, MA--(Marketwire - Mar 5, 2012) - Kyros Pressly LLP, a law firm that represents shareholders, announces that an investor class action lawsuit has been brought in the New York State Supreme Court against the board of directors of Kenneth Cole Productions, Inc. (NYSE: KCP) for possible violations of securities law.

Kenneth D. Cole, the CEO, is attempting to take KCP private, which raises conflict of interest issues that may concern shareholders.

Investors who own KCP stock are invited to contact Attorneys Bill Kyros or George Pressly at 1-800-934-2921, info@kyrospressly.com or visit our web site: MergersAcquisitionsCenter.com

On February 27, 2012, Mr. Cole announced he wants to take Kenneth Cole Productions private. Under the proposed deal Kenneth Cole Productions will pay stockholders $15.00 for each share of the KCP stock they own. Kenneth Cole Productions beat analyst expectations in its most recent reported financial results for the third quarter of fiscal year 2011. Some analysts set a target price for Kenneth Cole Productions that values the company's stock at $16.00 and $17.00, higher than the deal being offered by Mr. Cole for outstanding shares of KCP stock.

The shareholder in the lawsuit is asking whether Kenneth Cole Productions' board is conducting a fair process to obtain maximum shareholder value.

Investors who are interested in protecting their rights have a limited time in which to act. If you own shares of KCP and are concerned about the fairness of this deal please call Attorneys Bill Kyros or George Pressly at 1-800-934-2921.

Kyros & Pressly LLP is a Boston-based law firm with significant experience representing investors in merger related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For info about our law firm please visit our Kyros Pressly LLP web site.

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