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Skechers U.S.A., Inc. Message Board

  • cwebjohn cwebjohn Aug 13, 2012 7:07 PM Flag

    FTC case

    From what I have read it looks like a 40 + 5 million dollar settlement when you include the lawyers.

    I looked at the 10Q and it looks like 50 million was budgeted for this case.

    Does this mean Skechers will be paying 5 million less than expected? Or will the 5 million be used on their own lawyers?

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    • they can stick the FTC up their hind-end where the sun don't shine...
      personnaly I bought 4 pair os Shape-ups recently because they help cushion my knee-joints..my only income is from Air Force Reserve pension $600 a mos which kept
      me out of Viet Nam war..also a by product oy US Gov...
      well lets just say the White House admin was mostly responsible for Viet Nam..

      • 1 Reply to dolphinsam44
      • Since I've worn Shape-ups, I don't experience joint problems in my knees and hips. I have heel and other foot pain that they have almost cured. Also, I injured my left foot which other shoes kept re-injuring that is very much better. Frankly, my legs are in better shape with exercise from much more walking. Shape-ups got a bad rap from the shorts who took the stock down by bad news articles and our beloved government had to pitch in to help.

    • Found my answer:

      During the fourth quarter ended December 31, 2011, the Company reserved $45 million for costs and potential exposure relating to existing litigation and regulatory matters. Additionally, the Company recorded a pre-tax expense of $5 million in legal and professional fees related to the aforementioned matters, which was included in general and administrative expense in our consolidated statement of operations for the year ended December 31, 2011. On May 16, 2012, the Company announced that it had settled all domestic legal proceedings relating to advertising claims made in connection with marketing its toning shoe products, including Shape-ups.

 
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