SAN FRANCISCO, Oct. 30, 2017 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP advises investors in Skechers USA, Inc. (NYSE:SKX) that a securities class action on behalf of investors who purchased or otherwise acquired securities of SKX between April 23, 2015 and October 22, 2015 (the “Class Period”) is pending in the U.S. District Court for the Southern District of New York. This action was filed at the end of the discovery statute of limitations. The Lead Plaintiff deadline is December 22, 2017. If you purchased or otherwise acquired securities of SKX during the Class Period and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/SKX
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
After the market closed on October 22, 2015, Defendants announced financial results for the third quarter ended September 30, 2015. The results included disappointing sales falling short of analysts’ estimates. According to Defendants, $20 million in net sales were shifted from Skechers’ third quarter 2015 into its second quarter 2015 due to early customer deliveries.
This news drove the price of Skechers shares down $14.55 to close at $31.64 on October 23, 2015 – a loss of over 31%.
“We’re focused on Skechers’s revenue recognition timing, whether it ran afoul of generally accepted accounting principles, and investors’ damages,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Skechers should consider their options to help in the investigation or take advantage of the SEC whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email SKX@hbsslaw.com.
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Contact:
Reed Kathrein, 510-725-3000