SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces a Securities Fraud Class Action Lawsuit Has Been Filed Against Skullcandy...
February 17 2016 - 4:54PM
Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Skullcandy,
Inc. (NASDAQ:SKUL)?
- Did you purchase your shares between August 7, 2015 and
January 11, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a
complaint has been filed in the United States District Court for
the District of Utah on behalf of all persons or entities that
purchased the common stock of Skullcandy, Inc. (“Skullcandy” or the
“Company”) (NASDAQ:SKUL) between August 7, 2015 and January 11,
2016, inclusive (the “Class Period”), alleging violations of the
Securities Exchange Act of 1934 against the Company and certain of
its officers (the “Complaint”).
If you purchased shares of Skullcandy during the
Class Period, or purchased shares prior to the Class Period and
still hold Skullcandy, and wish to discuss this action or have any
questions concerning this notice or your rights or interests,
please contact Timothy J. MacFall, Esquire or Peter Allocco of
Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120,
Wilmington, DE 19803 at (888) 969-4242; by e-mail to
info@rl-legal.com; or at:
http://rigrodskylong.com/investigations/skullcandy-inc-skul.
The Complaint alleges that throughout the Class
Period, defendants made materially false and misleading statements,
and omitted materially adverse facts, about the Company’s business,
operations and prospects. As a result of defendants’ alleged
false and misleading statements, the Company’s stock traded at
artificially inflated prices during the Class Period.
According to the Complaint, on January 11, 2016,
Skullcandy issued a press release which updated the Company’s
financial outlook for the fourth quarter ended December 31, 2015,
and announced that it had missed Q4 2015 net sales
projections. According to the release, “the Company now
expects net sales to be approximately flat with 2014 levels, or
increase approximately 2% on a currency neutral basis. The
Company had previously forecasted net sales to increase by
approximately 5-7%, or approximately 8-10% on a currency neutral
basis, compared to the same quarter a year ago.”
On this news, shares of Skullcandy dropped over
28%, closing at $3.26 per share on January 12, 2016, on heavy
trading volume.
If you wish to serve as lead plaintiff, you must
move the Court no later than April 12, 2016.
A lead plaintiff is a representative party acting on behalf of
other class members in directing the litigation. Any member
of the proposed class may move the court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member.
Attorney advertising. Prior results do not guarantee a
similar outcome.
CONTACT:
Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Peter Allocco
(888) 969-4242
(516) 683-3516
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com
Skullcandy, Inc. (MM) (NASDAQ:SKUL)
Historical Stock Chart
From Sep 2024 to Oct 2024
Skullcandy, Inc. (MM) (NASDAQ:SKUL)
Historical Stock Chart
From Oct 2023 to Oct 2024