Faruqi & Faruqi, LLP is Investigating Skechers USA Inc. on Behalf of its Shareholders - SKX
Faruqi & Faruqi, LLP, is investigating potential wrongdoing at Skechers USA Inc. (“Skechers” or the “Company”) (NYSE: SKX). The investigation focuses on whether certain officers and directors of Skechers breached their fiduciary duties by causing or allowing the Company to engage in an unlawful and deceitful advertising campaign involving its toning shoe products.
On May 16, 2012, the Company announced it had reached an agreement to settle allegations that it engaged in improper and/or fraudulent advertising while marketing its toning shoe products, including its Shape-ups brand. Skechers will pay $45 million to settle the legal claims that were brought by the Federal Trade Commission and various state Attorneys General.