UPCOMING DEADLINE: The Law Firm of Levi & Korsinsky Notifies Investors With Losses on Their Investment in Deckers Outdoor Corporation of Class Action Lawsuit and the Deadline of July 31, 2012 to Seek a Lead Plaintiff Position -- DECK
Published on Tuesday, 17 July 2012 17:43 Written by TradersHuddle Staff
NEW YORK, July 17, 2012 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Deckers Outdoor Corporation ("Deckers" or the "Company") (Nasdaq:DECK) stock between October 27, 2011 and April 26, 2012.
For more information, click here: http://zlk.9nl.com/deckers-outdoor. There is no cost or obligation to you.
The complaint alleges that defendants made materially false and misleading statements regarding the Company's business operations, financial condition and prospects. According to the complaint, during the class period defendants concealed that: (a) the Company was unable to mitigate the effects of dramatically increasing prices for sheepskin; (b) due to unusually warm weather, the Company was experiencing a steeper decline in demand than was represented; (c) the Company's expansion resulted in the over-supply of UGG products, thus making price increases for those products ineffective; (d) the Company's inventory levels for its UGG brand were increasing rapidly, which led to the increased use of mark-downs and close-outs; (e) as a result, the Company's gross margin was negatively impacted; and (f) based on the above, defendants lacked a reasonable basis for their positive statements about the Company and its revenue outlook.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
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