A lawsuit was filed by a current investor in NASDAQ:DECK shares against directors of Deckers Outdoor Corp over alleged breaches of fiduciary duty and other current long-term NASDAQ:DECK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/01/2012 -- An investor in shares of Deckers Outdoor Corp (NASDAQ:DECK) filed a lawsuit against certain officers and directors of Deckers Outdoor Corp over alleged wrongdoing in connection with certain statements.
Investors who are current long-term stockholder in Deckers Outdoor Corp (NASDAQ:DECK) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that defendants breached their fiduciary duties owed to NASDAQ:DECK stockholders. The plaintiff claims that the defendants issued between October 27, 2011 and April 26, 2012, allegedly materially false and misleading statements concerning Deckers Outdoor’s financial condition and future business prospects. More specifically, so the lawsuit, the defendants allegedly misrepresented and omitted material facts concerning demand for its UGG brand.
On October 27, 2011, Deckers Outdoor announced its financial results for its 2011 third quarter, ended on September 30, 2011. After releasing its third quarter 2011 financial results, it also hosted a conference call.
Following these statements, shares of Deckers Outdoor rose on October 28, 2011 to as high as $117.66.
The plaintiff alleges that immediately following those statements the CEO of Deckers Outdoors sold over 24,000 shares of his NASDAQ:DECK stock at $112.68 per share for proceeds of $2.7million.
Then on April 26, 2012, after the market closed, Deckers Outdoor Corp reported its first quarter 2012 financial results. Among other things, Deckers Outdoor revised its 2012 fully year forecast.
Shares of Deckers Outdoor Corp fell from $69.45 on April 26, 2012, to as low as $50.40 on April 30, 2012.
On July 20, 2012, NASDAQ:DECK shares closed at $46.67 per share.
Those who are current long-term stockholder in Deckers Outdoor Corp (NASDAQ:DECK) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
Shareholders Foundation, Inc.
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