NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Kohl’s Corporation (“Kohl’s” or the “Company”) (NYSE: KSS). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether Kohl’s and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On May 20, 2022, Macellum Advisors GP, LLC (“Macellum”), “a long-term holder of nearly 5% of Kohl’s outstanding common stock,” issued a statement saying “[t]the extremely disappointing results for its quarter,” which Macellum described as “simply a consequence of a weak board and management composition that resulted in a flawed strategic plan and an inability to execute.” Macellum also stated that “the current board appears to have withheld from shareholders material information about the state of Kohl’s ahead of this year’s pivotal annual meeting,” which “to us suggests a clear breach of fiduciary duty.”

As a result of 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.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:
Robert S….