Federal Court Dismisses Securities Class Actions against Crocs, Inc.
March 01 2011 - 1:39PM
Business Wire
Crocs, Inc. (NASDAQ: CROX) announced today that the United
States District Court for the District of Colorado yesterday
entered an Order granting Crocs’ motion to dismiss the plaintiffs’
Corrected Amended Consolidated Class Action Complaint in In re
Crocs, Inc. Securities Litigation, Civil Action No.
07-cv-02351-PAB. This litigation started in 2007, when various
plaintiffs filed federal securities class action claims against the
company and some of the company’s current and former officers and
directors. The Order dismissed all claims and ends the consolidated
class action litigation that had been pending in the federal
court.
“We are gratified that the Court granted our motion to dismiss
in its thorough opinion. Crocs is moving forward with a focus on
our business,” said Daniel Hart, Crocs’ Executive Vice President,
Chief Legal & Administrative Officer.
A copy of the Order is available on the Court’s website.
Following entry of a judgment, plaintiffs will have the right to
file an appeal.
To learn more about Crocs or to find a Crocs store near you,
visit Crocs.com.
About Crocs, Inc.
A world leader in innovative casual footwear for men, women and
children, Crocs, Inc. (NASDAQ: CROX), offers several distinct shoe
collections with more than 250 styles to suit every lifestyle. As
lighthearted as they are lightweight, Crocs™ footwear provides
profound comfort and support for any occasion and every season. All
Crocs™ branded shoes feature Croslite™ material, a proprietary,
revolutionary technology that produces soft, non-marking, and
odor-resistant shoes that conform to your feet.
Crocs™ products are sold in 125 countries. Every day, millions
of Crocs™ shoe lovers around the world enjoy the exceptional form,
function, versatility and feel-good qualities of these shoes while
at work, school and play. Visit www.crocs.com for additional
information.
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