An investor in NASDAQ:SKUL shares filed a lawsuit against Skullcandy Inc over alleged Securities Laws violations in connection with certain allegedly false and misleading statements.
Shares of Skullcandy Inc (NASDAQ:SKUL) declined from $11.66 per share in April 2015 to as low as $2.93 per share on January 19, 2016
Investors who purchased shares of Skullcandy Inc (NASDAQ:SKUL) have certain options and for certain investors are short and strict deadlines running. Deadline: April 12, 2016. NASDAQ:SKUL investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The plaintiff alleges on behalf of purchasers of Skullcandy Inc (NASDAQ:SKUL) common shares between August 7, 2015, and January 11, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 7, 2015, and January 11, 2016 Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that the third quarter and full year 2015 revenue and net income guidance issued during the Company’s second quarter 2015 earnings announcement and subsequent conference call were materially false and misleading in that the projections were unattainable, that the fourth quarter and full year 2015 revenue and net income guidance issued during the Company’s third quarter 2015 earnings announcement and subsequent conference call were materially false and misleading in that the projections were unattainable, that the Defendants intentionally failed to timely disclose the Company’s challenges with its largest China distributor, that the Defendant Rick Alden and Ptarmagin, an entity controlled by Alden, with full knowledge of the undisclosed materially adverse facts alleged herein, embarked on a selling spree of personal holdings of SKUL common stock at artificially inflated prices, which sales they made without first disclosing these adverse material facts known to Defendants and withheld from the market, which permitted them to engage in unusual insider selling and realize proceeds in excess of $4 million, and that as a result of the foregoing, Defendants’ statements about SKUL’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
Those who purchased NASDAQ:SKUL shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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