NEW YORK, NY--(Marketwire -06/04/12)- 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") (DECK) stock between October 27, 2011 and April 26, 2012.
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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.
If you suffered a loss in Deckers you have until July 31, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/deckers-outdoor-deck.
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.