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Skechers U.S.A., Inc. (NYSE: SKX) Investor Securities Class Action Lawsuit 09/04/2018

  • If you purchased shares of Skechers U.S.A., Inc. (NYSE: SKX), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Skechers USA, Inc
Security
NYSE: SKX

Case Name
Skechers USA Shareholder Class Action Lawsuit 09/04/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

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Class Period End
Deadline To File for Lead
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Summary

March 12, 2020 - The court granted the defendants' motion to dismiss.

May 13, 2019 - A motion to dismiss the consolidated amended complaint was filed.

January 22, 2019 - A consolidated amended complaint was filed.

September 4, 2018 - An investor in shares of Skechers U.S.A., Inc. (NYSE: SKX) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Skechers U.S.A., Inc. in connection with certain allegedly false and misleading statements made between October 20, 2017 and July 19, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Skechers U.S.A., Inc. (NYSE: SKX) common shares between October 20, 2017 and July 19, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 20, 2017 and July 19, 2018, the Defendants failed to disclose thatSkechers lacked the operational infrastructure to handle demand and sustain true sales growth in its international markets, that Skechers was relying on expensive, third-party operational solutions to drive its international sales growth, that Skechers’ expenses would outgrow sales for the foreseeable future, that Skechers’ international sales growth was not sustainable without such outgrown expenses, and that as a result of the foregoing, Defendants’ statements about Skechers’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

Manhattan Beach, CA based Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide.

On October 19, 2017, Skechers U.S.A., Inc announced its third quarter financial results and issued its outlook for the fourth quarter.

Shares of Skechers U.S.A., Inc. (NYSE: SKX) grew from $24.00 per share on October 19, 2017 to as high as $43.08 per share in April 2018.

On July 19, 2018, Skechers U.S.A., Inc announced its second quarter 2018 financial results and issued its outlook for the third quarter.

Shares of Skechers U.S.A., Inc. (NYSE: SKX) declined to a slow as $23.80 per share on July 20, 2018.