updated 4/15/2011 4:47:22 PM ET 2011-04-15T20:47:22

NEW YORK, April 15, 2011 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Kid Brands, Inc. ("Kid Brands" or the "Company") during the period from March 29, 2010 – March 14, 2011 (the "Class Period"). Such investors are advised to contact Rachelle R. Boyle at rrboyle@pomlaw.com or 888-476-6529, ext. 237.

Kid Brands designs, develops, and distributes infant and juvenile branded products. The investigation concerns whether the Company and a subsidiary made improper payments of import duties on certain wooden furniture imported from vendors in China, including misidentifying the manufacturer and shipper of products, resulting in a violation of anti-dumping regulations. On March 15, 2011, the Company disclosed that it incurred costs of approximately $7 million relating to customs duty owed and may be assessed a penalty by U.S. Customs as well as possibly being subject to assessment for additional duties on other items.

In response to this news, Kid Brands shares fell nearly $2.25 or more than 24 percent.

The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com .

CONTACT: Rachelle R. Boyle
         Pomerantz Haudek Grossman & Gross LLP
         888-476-6529 (ext. 237)
         rrboyle@pomlaw.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.97%
$30K home equity loan FICO 5.19%
$75K home equity loan FICO 4.58%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.40%
13.40%
Cash Back Cards 17.92%
17.91%
Rewards Cards 17.12%
17.11%
Source: Bankrate.com