NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating the Board of Directors of K-Swiss Inc. (“K-Swiss” or the “Company”) (NasdaqGS: KSWS) 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. (“E.Land”).
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Under the terms of the transaction, K-Swiss shareholders will receive $4.75 for each share of K-Swiss stock they own. The transaction has a total approximate value of $170 million. The investigation concerns whether the K-Swiss Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether E.Land is underpaying for K-Swiss, thus unlawfully harming K-Swiss stockholders. In particular, at least one analyst set a price target for K-Swiss stock at $5.60 per share.
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