SOURCE: Shareholders Foundation

Shareholders Foundation

July 23, 2012 09:35 ET

Deckers Outdoor Corp (DECK) Investor Lawsuit Over Alleged Wrongdoing by Directors Announced by Shareholders Foundation

SAN DIEGO, CA--(Marketwire - Jul 23, 2012) - The Shareholders Foundation, Inc. announces that a lawsuit was filed by an investor in shares of Deckers Outdoor Corp (DECK) against certain officers and directors of Deckers Outdoor over alleged wrongdoing in connection with certain statements.

Investors who are current long-term stockholders in shares of Deckers Outdoor Corp (DECK) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

The plaintiff alleges that defendants issued between October 27, 2011 and April 26, 2012, materially false and misleading statements concerning Deckers Outdoor's financial condition and future business prospects. More specifically, 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 and after releasing those financial results it also hosted a conference call.

Following these statements, Deckers Outdoor shares 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 DECK stock at $112.68 per share for proceeds of $2.7million.

Then on April 26, 2012, after the market closed, Deckers Outdoor reported its first quarter 2012 financial results. Among other things, it also revised its 2012 fully year forecast.

Deckers Outdoor shares fell from $69.45 on April 26, 2012, to as low as $50.40 on April 30, 2012.

On July 20, 2012, DECK closed at $46.67 per share.

Those who are current investors in Deckers Outdoor shares, have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact Information

  • CONTACT:
    Shareholders Foundation, Inc.
    Trevor Allen
    +1 (858) 779-1554
    mail@shareholdersfoundation.com
    3111 Camino Del Rio North
    Suite 423
    San Diego, CA 92108