Case Page

 

Case Status:    ONGOING    
On or around 11/20/2018 (Ongoing date of last review)

Filing Date: September 04, 2018

Plaintiff's law firm issued a press release announcing the lawsuit on September 4, 2018. According to the press release, Skechers is a global footwear company that designs and markets branded footwear for men, women and children. The Company sells its footwear in department, specialty and independent stores, as well as through more than 2,600 retail stores and its online websites. Beyond the United States, Skechers product is available in more than 170 countries and territories through an international network of subsidiaries.

The Complaint asserts claims for violations of the Securities Exchange Act of 1934 and alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, prospects and financial health. Specifically, Defendants failed to disclose that: (1) Skechers lacked the operational infrastructure to handle demand and sustain true sales growth in its international markets; (2) Skechers was relying on expensive, third-party operational solutions to drive its international sales growth; (3) Skechers’ expenses would outgrow sales for the foreseeable future; (4) Skechers’ international sales growth was not sustainable without such outgrown expenses; and (5) 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.

On November 20, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. The cases are to be captioned "In re Skechers USA, Inc. Securities Litigation."

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Footwear
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 #: 18-CV-08039
JUDGE: Hon. Naomi Reice Buchwald
DATE FILED: 09/04/2018
CLASS PERIOD START: 10/20/2017
CLASS PERIOD END: 07/19/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Saxena White PA (Boca Raton)
    2424 N. Federal Highway, Suite 257, Saxena White PA (Boca Raton), FL 33431
    561.394.3399 561.394.3399 ·
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available