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Collective Brands, Inc. (PSS)

(NYSE: PSS)

Summary

Faruqi & Faruqi, LLP Announces Investigation of Collective Brands, Inc. (PSS)

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Collective Brands, Inc. (“Collective Brands” or the “Company”) (NYSE: PSS) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to a consortium comprised of Wolverine World Wide Inc. (NYSE: WWW), Blum Capital Partners, and Golden Gate Capital in an all-cash deal valued at about $2 billion.  Under the terms of the proposed transaction, Collective Brands’ stockholders will receive $21.75 in cash for each share of Collective Brands’ common stock they own.

Whether Collective Brands’ Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Collective Brands’ shares and by how much this proposed transaction undervalues the Company to the detriment of Collective Brands’ shareholders are the key focus of this investigation.

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    Collective Brands, Inc. (PSS)
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

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