Kate Spade sued by shareholder

by Louie Torres |
Jun. 12, 2017, 12:55pm

NEW YORK (Legal Newsline) — A shareholder has filed a class action lawsuit against Kate Spade & Company and its board members, alleging violation of federal law.

Joel Rosenfeld filed a complaint, individually and on behalf of all others similarly situated May 31 in U.S. District Court for the Southern District of New York against Kate Spade & Company, and board members Craig A. Leavitt, Deborah J. Lloyd, Nancy J. Karch, Lawrence S. Benjamin, Raul J. Fernandez, Carsten Fischer, Kenneth B. Gilman, Kenneth P. Kopelman, Douglas Mack, Jan Singer and Doreen A. Toben, alleging the defendants provided materially misleading information concerning the company's proposed purchase by Coach.

According to the complaint, Rosenfeld alleges he was damaged monetarily from having been divested into agreeing into Kate Spade's proposed transaction with Coach because the defendants failed to disclose material information regarding the company's transaction.

Rosenfeld seeks trial by jury, enjoin the defendant, rescissory damages, court costs and all further relief this court grants. He is represented by Richard A. Acocelli of Weisslaw LLP in New York.

U.S. District Court for the Southern District of New York case number 1:17-cv-04085-RMB

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U.S. District Court for the Southern District of New York
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