Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Deckers Outdoor
WAYNE, Pa. -- June 07, 2012
Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/deck) announces that a class
action lawsuit has been filed in the United States District Court for the
Central District of California on behalf of purchasers of the common stock of
Deckers Outdoor Corporation ("Deckers" or the "Company") (NASDAQ: DECK)
between October 27, 2011 and April 26, 2012, inclusive (the "Class Period").
For more information regarding this class action suit, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by
email at email@example.com or visit: www.rmclasslaw.com/cases/deck.
The Complaint alleges that Deckers and certain of its officers and directors
violated the federal securities laws. Specifically, defendants concealed the
following facts: (i) Deckers was not able to mitigate the effects of
dramatically increasing prices for sheepskin; (ii) there was a decline in
demand to a much larger extent than represented due to the unusually warm
weather; (iii) the Company's extensive expansion resulted in the over-supply
of UGG products, which meant that the price increases for those products were
ineffective; (iv) Decker's inventory levels for its UGG brand were increasing
rapidly, which led to the increased use of mark-downs and close-outs; and (v)
as a result, Decker's gross margin was negatively impacted.
On April 26, 2012, Deckers announced that it had missed its second quarter
2012 earnings and lowered its full-year 2012 guidance, projecting a decrease
in 2012 diluted EPS of 9%-10%, compared to previous guidance for diluted EPS
to be flat year-over-year. On this news, Decker stock fell $17.63 to close at
$51.83 per share on April 27, 2012.
If you are a member of the class, you may, no later than July 31, 2012,
request that the Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other class members
in directing the litigation. In order to be appointed lead plaintiff, the
Court must determine that the class member's claim is typical of the claims of
other class members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may together
serve as "lead plaintiff." Your ability to share in any recovery is not,
however, affected by the decision whether or not to serve as a lead plaintiff.
You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve
as your counsel in this action.
For more information about the case or to participate online, please visit:
www.rmclasslaw.com/cases/deck or contact Richard A. Maniskas, Esquire
toll-free at (877) 316-3218, or by e-mail at firstname.lastname@example.org. For
more information about class action cases in general or to learn more about
Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan &
Maniskas, LLP is devoted to protecting the interests of individual and
institutional investors in shareholder actions in state and federal courts
Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
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