A lawsuit was filed on behalf of investors in Quiksilver, Inc. (NYSE:ZQK) shares over alleged securities laws violations. Deadline: June 1, 2015. NYSE:ZQK investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/06/2015 -- An investor, who purchased shares of Quiksilver, Inc. (NYSE:ZQK), filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Quiksilver, Inc. in connection with certain allegedly false and misleading statements made between June 6, 2014 and March 26, 2015.
Investors who purchased shares of Quiksilver, Inc. (NYSE:ZQK) have certain options and for certain investors are short and strict deadlines running. Deadline: June 1, 2015. NYSE:ZQK investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Quiksilver, Inc. (NYSE:ZQK) common shares between June 6, 2014 and March 26, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Quiksilver, Inc. made allegedly false and/or misleading statements and/or failed to disclose that Quiksilver, Inc. lacked adequate internal controls over financial reporting and that as a result of the foregoing, Quiksilver's financial statements were materially false and misleading at all relevant times.
Quiksilver, Inc. reported that its Total Revenue declined from over $1.94 billion for the 12 months period that ended on October 31, 2012 to over $1.57 billion for the 12 months period that ended on October 31, 2014 and that its respective Net Loss increased from $10.76 million to $309.38 million.
On Mar. 4, 2015, Quiksilver, Inc. (NYSE:ZQK) announced that it has postponed the distribution of its 2015 first quarter earnings release, as well as the related conference call and webcast previously scheduled to take place on March 5th, as a result of a revenue cut-off issue identified by management and brought to the attention of the Audit Committee. Quiksilver, Inc. said the Audit Committee promptly commenced an investigation last week and has not yet reached any conclusions.
On March 26, 2015, Quiksilver, Inc filed an amended Form 10-K for the fiscal year ended October 31, 2014 with the Securities and Exchange Commission ("SEC").
On Mar. 27, 2015 Quiksilver, Inc announced that Pierre Agnes, President of Quiksilver, Inc., has been promoted to Chief Executive Officer and added to the Board of Directors; he succeeds Andy Mooney who is no longer with the company. Quiksilver, Inc also said that Greg Healy, Quiksilver's APAC Region President, has been promoted to President of Quiksilver, Inc., and Bob McKnight has been appointed Chairman.
Shares of Quiksilver, Inc. (NYSE:ZQK) closed on April 2, 2015 at $1.82 per share.
Those who purchased shares of Quiksilver, Inc. (NYSE:ZQK) have certain options and should contact the Shareholders Foundation.
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