RADNOR, Pa., May 24, 2022 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Kohl’s Corporation (: KSS) (“Kohl’s”).
On May 20, 2022, Macellum Advisors GP, LLC (“Macellum”), "a long-term holder of nearly 5% of the outstanding common shares of Kohl's", issued a statement addressing "[t]his quarter's extremely disappointing results," which Macellum described as "simply a consequence of a weak Board and management configuration leading to a flawed strategic plan and an inability to execute." Additionally, Macellum stated that "the current Board appears to have withheld material information from shareholders about the state of Kohl's in the lead-up to this year's pivotal annual meeting," which "suggests to us a clear breach of fiduciary duty." Following this news, Kohl's stock price fell $5.84 per share, or 12.97%, to close at $39.20 per share on May 20, 2022.
If you are a Kohl’s investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or E-mail at [email protected]. You can also click on the following link or paste it in your browser: https://www.ktmc.com/kohls-corporation-investigation?utm_source=PR&utm_medium=link&utm_campaign=kohls
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
[email protected]
