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U.S. Shoe Sued: Six U.S. Shoe Corp....

U.S. Shoe Sued: Six U.S. Shoe Corp. shareholders have sued the company in an effort to block the planned sale of its footwear division to an investor group for $422.5 million. The shareholders filed the lawsuit in Hamilton County (Ohio) Common Pleas Court alleging that U.S. Shoe Chairman Philip G. Barach and the Cincinnati-based firm’s directors breached their fiduciary duty to shareholders by agreeing to sell the division. The shareholders claim that U.S. Shoe officials should have done more to increase the company’s value for its shareholders. U.S. Shoe declined comment on the suit.


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