Quiksilver, Inc. is one of the world's largest brands of surfwear and boardsport-related equipment.

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.