Skechers USA, Inc. announced Friday that the United States District Court for the Central District of California dismissed the first amended consolidated shareholders securities class action complaint filed against the Company and certain of the Company's individual officers and directors and entered final judgment in their favor.
The first amended consolidated class action complaint named as defendants the Company and certain of its officers and directors and alleged violations of the federal securities laws on behalf of persons who purchased publicly traded securities of the Company between April 3, 2002 and December 9, 2002. The original shareholder securities class action complaint was filed against the Company on March 25, 2003. Additional complaints followed, the court ordered the cases to be consolidated in July 2003 and the plaintiffs filed a consolidated complaint entitled In re SKECHERS U.S.A. Securities Litigation in September 2003. Further information on the individual complaints can be found in the Company's annual report on Form 10-K for the year ended December 31, 2004. The court dismissed the original consolidated complaint in May 2004 and the first amended consolidated complaint in March 2005. On April 7, 2005, the plaintiffs elected to stand on the first amended consolidated complaint and requested entry of judgment so that an appeal from the court's ruling could be taken. On April 26, 2005, the court entered final judgment in favor of the Company and the plaintiffs have thirty days from April 26, 2005 to appeal the judgment.
