Robbins Arroyo LLP: Skechers U.S.A., Inc. (SKX) Misled Shareholders According to Shareholder Lawsuit
Shareholder rights law firm
Robbins Arroyo LLP reminds shareholders that purchasers of Skechers U.S.A., Inc. (NYSE: SKX) have filed a shareholder complaint
against the company's officers and directors for alleged breaches of fiduciary duty, insider trading and misappropriation of
information, and waste of corporate assets between October 19, 2017 and July 19, 2018. Skechers designs, develops, markets, and
distributes footwear for men, women, and children.
View this information on the law firm's Shareholder Rights Blog:
https://www.robbinsarroyo.com/skechers-u-s-a-inc-nov-2018/
Skechers Accused of Misleading Investors About Its Potential for Global Growth
According to the complaint, Skechers officials touted the company's strong sales growth while having no regard for the
unsustainable increases in expenses. Although Skechers led investors to believe that the company would continue to see strong
growth on a global scale, in reality, Skechers did not have the operational infrastructure to meet the demand for its products in
many of its international markets. The truth began to emerge on April 19, 2018, when Skechers reported expense growth of 23.4% from
the previous year compared to only 16.5% in sales growth. On July 19, 2018, Skechers announced that expenses grew by nearly 20%,
causing earnings from operations to decrease by 5.7% and net earnings to decline by almost 24%. Since news of Skechers' troubles
first became public, its stock has fallen 37% to close at $26.56 per share on November 29, 2018.
Skechers Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid
Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the
shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service,
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Leonid Kandinov
Robbins Arroyo LLP
LKandinov@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20181203006013/en/