MILWAUKEE--(BUSINESS WIRE)--Ademi LLP is investigating Kidpik (Nasdaq: PIK) for possible breaches of fiduciary duty and other violations of law in its transaction with Nina Footwear.
Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ademilaw.com or toll-free: 866-264-3995. There is no cost or obligation to you.
In the transaction, Kidpik will acquire Nina Footwear through a reverse subsidiary merger. Nina Footwear stockholders will be issued shares of common stock of Kidpik such that at closing Nina Footwear’s stockholders will own 80% of Kidpik’s outstanding common stock. Kidpik is controlled by Mr. Ezra Dabah, the Chief Executive Officer, Chairman, and majority stockholder (67% beneficial owner) of Kidpik, who is also the Chief Executive Officer of Nina Footwear. Mr. Dabah and his children own approximately 79.3% of Nina Footwear, and Mr. Dabah and his extended family own 100% of Nina Footwear. Mr. Dabah, his children and wife are expected to continue to control approximately 76.8% of the combined company’s voting shares following the closing of the merger.
We are investigating the conduct of Kidpik’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
