San Diego, CA -- (SBWIRE) -- 05/02/2012 -- The proposed takeover of Collective Brands is under investigation on behalf of investors in NYSE:PSS shares concerning whether the offer by the consortium comprised of Wolverine Worldwide , Blum Capital Partners and Golden Gate Capital to acquire Collective Brands Inc. at $21.75 per share and the takeover process are unfair to investors in NYSE:PSS

Investors who purchased shares of Collective Brands Inc. (NYSE:PSS) prior to May 1, 2012 and currently hold any of those NYSE:PSS shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigations by a law firm concerns whether certain officers and directors of Collective Brands Inc. breached their fiduciary duties owed to NYSE:PSS investors in connection with the proposed acquisition.

On Tuesday May. 1, 2012, Collective Brands, Inc. and the consortium comprised of Wolverine Worldwide, Blum Capital Partners and Golden Gate Capital announced that they have entered into an agreement under which Collective Brands will be acquired for $21.75 per share in cash, or a total of approximately $2.0 billion, including the assumption of debt. Collective Brands, Inc said the $21.75offer represents a 104% premium to the 30-day volume weighted average trading price prior to the August 24, 2011 announcement that Collective Brands’ Board of Directors, together with management, would conduct a review of strategic and financial alternatives.

However, NYSE:PSS traded during Friday April 27, 2012 as high as $21.23 per share, leaving seom NYSE:PSS stockholders with only a meager premium. In fact, NYSE:PSS shares traded in February 2011 as high as $23.44 per share and in 2010 as high as $25.99 per share, thus asking certain stockholders to hand over their NYSE:PSS shares at a discount.

Therefore the investigation for NYSE:PSS investors concerns whether the proposed transaction is unfair to Collective Brands Inc. stockholders. Specifically, the investigation focuses on whether the Collective Brands Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Those who are current investors in Collective Brands Inc. (NYSE:PSS) and purchased their Collective Brands Inc. shares prior to the announcement, have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com