Law Office of Brodsky & Smith, LLC Announces Investigation of Collective Brands, Inc.

BALA CYNWYD, Pa., May 1, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Collective Brands, Inc. ("Collective" or the "Company") (NYSE: PSS) relating to the proposed acquisition by Wolverine World Wide Inc., Blum Capital Partners and Golden Gate Capital.

Under the terms of the transaction, Collective shareholders would receive only $21.75 in cash for each share of Collective stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Collective for not acting in the Company's shareholders' best interests in connection with the sale process to Golden Gate. The transaction may undervalue collective as the transaction represents only a slight premium to the $21.20 that the stock traded at on April 27, 2012. In addition, Collective stock traded at $23.44 on February 11, 2011 and $22.42 on April 27, 2011. 

If you own shares of Collective 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 [email protected], visiting http://brodsky-smith.com/419-pss-collective-brands-inc.html, or by calling toll free 877-LEGAL-90.

SOURCE Brodsky & Smith, LLC

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