Glancy Prongay & Murray Reminds Investors of the Deadline in the Class Action Lawsuit Against Skechers U.S.A., Inc.
(SKX)
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the November 5, 2018 deadline to file a lead plaintiff
motion in the class action filed on behalf of investors that purchased Skechers U.S.A., Inc. (“Skechers” or the “Company”) (NYSE:
SKX) securities between October 20, 2017 and July 19, 2018, inclusive (the “Class Period”). Skechers investors have
until November 5, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here
to participate.
On July 19, 2018, Skechers announced its financial and operating results for the second quarter 2018. Skechers reported selling,
general and administrative (“SG&A”) expense growth of 19.7%, nearly twice its sales growth of 10.6% for the quarter, which
caused earnings from operations to decrease by 5.7% and net earnings to decline by almost 24%. On this news, Skechers’ share
price fell $6.98, or nearly 21%, to close at $26.27 on July 20, 2018, thereby injuring investors.
The Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or
misleading statements and/or 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) consequently, Defendants’ statements about
Skechers’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
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If you purchased shares of Skechers during the Class Period you may move the Court no later than November 5, 2018 to
ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel
of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action,
or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact
Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free
at 888-773-9224, by email to shareholders@glancylaw.com, or visit
our website at
www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com
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