Deckers Outdoor Corp (NASDAQ:DECK) Investor Files Class Action Lawsuit Over Alleged Securities Laws Violations
May 31, 2012 (Shareholders Foundation) -- An investor in NASDAQ:DECK shares filed a lawsuit in the U.S. District Court for the Central District of California against Deckers Outdoor Corp over alleged Violations of Federal Securities Laws in connection with certain financial statements.
According to the complaint the plaintiff alleges on behalf of all persons who purchased or otherwise acquired Deckers Outdoor Corp (NASDAQ:DECK) common stock between October 27, 2011 to April 26, 2012,that Deckers Outdoor Corp and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements between October 27, 2011 to April 26, 2012.
Deckers Outdoor reported that its annual Revenue rose from $689.45million in 2008 to $1.37billion in 2011 and its Net Income rose from $73.95million in 2008 to $199.05million in 2011.
Shares of Deckers Outdoor Corp (NASDAQ:DECK) rose since its 3:1 split on July 6, 2010 from under $45 per share to as high as $117.66 per share on October 28, 2011.
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 (NASDAQ:DECK) fell from $69.45 on April 26, 2012, to as low as $50.40 per share on April 30, 2012.
On May 18, 2012 NASDAQ: DECK shares closed at $53.22 per share.