On or around 09/01/2017 (Date of order of distribution of settlement)
Filing Date: April 02, 2015
According to the law firm press release, the lawsuit alleges that Quiksilver made false and/or misleading statements and/or failed to disclose that: (1) the Company lacked adequate internal controls over financial reporting; and (2) as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times. When the true details entered the market, the suit claims that investors suffered damages.
A consolidated complaint was filed on August 25, 2015.
On June 7, 2016, the parties filed a Notice voluntarily dismissing issuer Defendant from this action.
On November 16, 2016, the Plaintiffs and the Individual Defendants entered into a Settlement Agreement. This Settlement was preliminarily approved on January 3, 2017. On May 3, 2017, the Court granted final approval of the Settlement and dismissed this case with prejudice.
Company & Securities Information
Defendant: Quiksilver, Inc.
Sector: Consumer Cyclical
Headquarters: United States
Ticker Symbol: ZQK
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Leiland Stevens, et al. v. Quiksilver, Inc., et al.