NEW YORK, NY / ACCESSWIRE / December 7, 2017 / The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Skechers U.S.A., Inc. (NYSE: SKX) who purchased shares between April 23, 2015 and October 22, 2015. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
The complaint alleges that, during the Class Period, statements made by defendants 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.
Shareholders have until December 22, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the Class Period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sbm/skechers-u-s-a-inc?wire=1.
Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
Joseph Klein, Esq.
Empire State Building
350 Fifth Avenue
New York, NY 10118
Telephone: (212) 616-4899
Fax: (347) 558-9665
SOURCE: The Klein Law Firm