MILWAUKEE, Jan. 17, 2013 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of K•Swiss Inc. ("K•Swiss" or the "Company") for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to E.Land World Ltd.
Click here to learn how to join the action: http://www.ademilaw.com/case/kswiss-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
K•Swiss shareholders will receive $4.75 for each share in the transaction. The merger agreement unreasonably limits prospective bids for K•Swiss by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should K•Swiss receive and accept a superior bid. K•Swiss insiders, their affiliates and other majority shareholders own more than 75% of the voting stock of K•Swiss, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of the Company not necessarily in the best interests of minority, non-insider shareholders. In light of these facts, our investigation centers on the conduct of K•Swiss's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for K•Swiss.
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CONTACT: Ademi & O'Reilly, LLP Guri Ademi 3620 East Layton Ave. Cudahy, WI 53110 Toll Free: (866) 264-3995 Fax: (414) 482-8001 www.ademilaw.comSource:Ademi & O'Reilly, LLP