NEW YORK, May 22, 2012 /PRNewswire/ -- Harwood Feffer LLP ( www.hfesq.com) is investigating potential claims against the board of directors of Skechers U.S.A., Inc. ("Skechers" or the "Company") (NYSE: SKX), concerning whether the board has breached its fiduciary duties to shareholders.
On May 16, 2012, the Company announced it had reached a settlement agreement relating to allegations that it used false advertising in the marketing of its toning shoe products, specifically the Shape-ups brand. Skechers will pay $45 million to settle the legal claims that were brought by the Federal Trade Commission, various state Attorneys General, and consumer class actions.
Our investigation concerns whether the Skechers board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.If you own Skechers shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact: Benjamin Sachs-Michaels, Esq. Robert I. Harwood, Esq.Harwood Feffer LLP488 Madison Avenue New York, New York 10022Phone Numbers: (877) 935-7400 (212) 935-7400Email: firstname.lastname@example.org Website: http://www.hfesq.com Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website ( http://www.hfesq.com) for more information about the firm. Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP ( www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.