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Case Status:    ONGOING    
On or around 10/23/2017 (Ongoing date of last review)

Filing Date: October 20, 2017

According to the Complaint, this is a securities class action on behalf of all persons or entities who purchased
or otherwise acquired Skechers common stock between April 23, 2015 and October 22, 2015, inclusive (the “Class Period”). The action is brought against Skechers and certain of its officers and/or directors for violations of the Securities Exchange Act of 1934 (the “Exchange Act”) and SEC Rule 10b-5 promulgated thereunder.

The Complaint alleges that during the Class Period, Skechers repeatedly touted the strength of customer demand within the Domestic Wholesale segment, which the Company claimed would spur continued sales growth. Skechers frequently emphasized that its Domestic Wholesale segment growth would continue into the second half of 2015 based on pending orders and meetings with key customers. The Complaint further alleges that Defendants’ Class Period statements pertaining to back-half 2015 customer demand and sales growth related thereto were materially false and misleading because Defendants failed to disclose that: (1) the Company’s Domestic Wholesale customers took early receipt of fall 2015 inventory, causing them to delay receipt of and, in some cases, cancel pending orders scheduled for delivery in the second half of 2015; (2) as a result of the foregoing, the Company’s Domestic Wholesale growth rate was unsustainable; and (3) the Company’s positive statements about its business, operations, and prospects lacked a reasonable basis.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Apparel/Accessories
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SKX
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.
COURT: S.D. New York
DOCKET #: 17-CV-08107
JUDGE: Hon. Analisa Torres
DATE FILED: 10/20/2017
CLASS PERIOD START: 04/23/2015
CLASS PERIOD END: 10/22/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 · info@labaton.com
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