NEW YORK, Jan. 17, 2008 (PRIME NEWSWIRE) -- Roy Jacobs & Associates announces that it is investigating the directors of Kellwood Company ("Kellwood" or the "Company") (NYSE:KWD) for possible breaches of fiduciary duty by their failure to fairly consider a very attractive offer for the troubled apparel maker, and by the institution of countermeasures to prevent shareholders from having the opportunity to accept a $21 per share offer from Sun Capital Securities Group, LLC ("Sun").
If you are interested in discussing legal action to cause the Kellwood Board of Directors to take action to maximize the value of your Kellwood shares please call 1-888-884-4490 or email to rjacobs@jacobsclasslaw.com.
Sun has launched a tender offer for Kellwood shares at $21, but Kellwood has taken countermeasures to thwart that deal, and Sun's offer is conditioned on the withdrawal of the countermeasures. Accordingly, it appears that the Kellwood Board is not acting in the best interests of the Kellwood shareholders and not attempting to maximize shareholder value. Rather it has taken action to prevent Kellwood shareholders from having the opportunity to decide whether to tender their shares or not tender their shares in response to Sun's offer, and has failed to explore whether an offer above $21 per share might be obtained through fair negotiations.
Legal action will demand that the Kellwood Board act in the best interests of the shareholders and to allow shareholders to decide if they want to tender their shares into the present offer, and whether an even better offer might be negotiated. If you hold Kellwood shares and are interested in discussing your rights free of charge, please contact Roy L. Jacobs. Mr. Jacobs will speak with you at no cost or obligation.