NEW YORK, Oct. 23, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Skechers U.S.A., Inc. ("Skechers" or the "Company") (NYSE: SKX). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Skechers and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 22, 2015, post-market, Skechers issued a press release announcing financial results for third quarter 2015, which included net sales that fell short of analysts' consensus estimates. The Company advised investors that $20 million in net sales were shifted from third quarter 2015 into second quarter 2015 due to early customer deliveries, and blamed its sales miss on Skechers' inability to make up this shortfall in third quarter 2015, citing a weaker-than-expected retail environment.
On this news, Skechers' share price fell $14.55, or 31.5%, to close at $31.64 on October 23, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP