K-Swiss Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to E.Land World

DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of K-Swiss, Inc. (“K-Swiss”) (Nasdaq: KSWS) to E.Land World Ltd., a South Korean apparel distribution, for shareholders. Under the terms of the proposed deal valued at approximately $170 million, K-Swiss shareholders will only receive $4.75 in cash for each share of K-Swiss stock owned, which is below at least one analyst’s estimate of $5.60 per share. The merger is expected to close in the second quarter of 2013.

“due to the proposed sale price, the size of the deal and other factors, we believe this transaction may undervalue K-Swiss’ stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders.”

If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, [phone], via email at [e-mail] or Zach Groover at Powers Taylor, LLP, toll free [phone], via e-mail at [e-mail]. There is no cost or fee to you.

The K-Swiss sale investigation centers on whether K-Swiss’ shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues K-Swiss’ stock, and whether K-Swiss’ board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, at least one analyst with Yahoo! Finance has estimated that the true inherent value of K-Swiss could be as high as $5.60 per share, well above the proposed sale price. Shareholder rights attorney Willie Briscoe stated that “due to the proposed sale price, the size of the deal and other factors, we believe this transaction may undervalue K-Swiss’ stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders.”

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.