NEW YORK, Sept. 14, 2022 (GLOBE NEWSWIRE) — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors in Kohl’s Corporation (“Kohl’s” or the “Company”) KSS.

If you have purchased or otherwise acquired securities of Kohl between October 20, 2020 and May 19, 2022 inclusive (the “Class Period”) and would like to discuss our investigation, please contact us via email [email protected] or by calling (646) 315-9003.

If you are a member of the proposed class, you can move the court by November 1, 2022 at the latest to serve as lead plaintiff for the alleged class. You do not have to seek lead plaintiff to participate in a possible recovery.

On May 19, 2022, the Company’s CEO, Michelle Gass, in connection with the release of the Company’s first quarter fiscal 2022 results, stated, “While the year has fallen short of our expectations, trends are improving, we are making changes and the benefits of our key strategic initiatives lie ahead.”

On May 20, 2022, according to the Complaint, Macellum Advisors GP, LLC (“Macellum”), “a long-term holder of nearly 5% of Kohl’s outstanding common stock,” issued a statement addressing “[t]the extremely disappointing results for its quarter”, which Macellum described as “simply a consequence of a weak board and management composition resulting in a flawed strategic plan and an inability to execute”. In addition, Macellum stated that “the current board appeared to be withholding material information from shareholders about the condition of Kohl’s ahead of this year’s crucial annual meeting.[i]If any of the current directors were aware of this material information prior to the annual meeting, their involvement in a decision to withhold news prior to a monumental shareholder vote indicates to us a clear breach of fiduciary duty.”

Following this news, Kohl’s stock price fell $5.84 per share, or…