Philadelphia, Pennsylvania--(Newsfile Corp. - February 7, 2025) - Current shareholders who acquired Crocs, Inc. (NASDAQ: CROX) shares prior to November 3, 2022, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them whatsoever. You do not need to have lost money on your investment in order to participate. To learn more visit https://grabarlaw.com/the-latest/crocs-shareholder-investigation/ or contact Joshua H. Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085.
WHY: Grabar Law Office is investigating claims on behalf of shareholders of Crocs, Inc. (NASDAQ: CROX). The investigation concerns whether certain officers and directors of Crocs breached their fiduciary duties.
On February 17, 2022, Crocs acquired100% of the equity of a privately-owned casual footwear brand business ("HEYDUDE"), pursuant to a securities purchase agreement entered into on December 22, 2021. HEYDUDE is engaged in the business of distributing and selling casual footwear under the brand name "HEYDUDE." The majority of HEYDUDE sales are currently in the United States.
Croc's acquisition of HEYDUDE, is now at the center of a securities fraud class action complaint. According to the underlying class action complaint, it is alleged that Croc's, Inc. (NASDAQ: CROX), via certain of its officers and directors, made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about the Company's business and operations. Specifically, Defendants misrepresented and/or failed to disclose: (1) the nature and sustainability of HEYDUDE's revenue growth by concealing that 2022 revenue growth was driven, in large part, by the Company's efforts to stock third-party wholesalers and retailers following the February 2022 acquisition of HEYDUDE; (2) that as the Company's retail partners began to destock this excess inventory, waning product demand further negatively impacted the Company's financial results; and (3) that, as a result, Defendants' representations about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.
WHAT YOU CAN DO NOW: Current Crocs shareholders who have held shares of the Company's stock since prior to November 3, 2022, can seek corporate reforms, the return of funds, and a court approved incentive award if appropriate.
If you would like to learn more at no cost to you, you are encouraged to visit https://grabarlaw.com/the-latest/crocs-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085.
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