NEW YORK, NY / ACCESSWIRE / April 8, 2016 / Bronstein, Gewirtz & Grossman, LLC, reminds investors of class action against Skullcandy, Inc. ("Skullcandy" or the "Company") (NASDAQ: SKUL). The class action has been filed on behalf of a class consisting of all persons or entities who purchased Skullcandy, Inc. securities during the period between August 7, 2015 and January 11, 2016 inclusive (the "Class Period").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
Skullcandy is a Park City, Utah-based company that markets headphones, earphones, hands free devices, audio backpacks, MP3 players, and other products.
The Complaint alleges that throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) Skullcandy's published third quarter and full year 2015 revenue and net income guidance were unattainable; (2) Skullcandy's published fourth quarter and full year 2015 revenue and net income guidance were unattainable; (3) Skullcandy encountered challenges with its largest China distributor; (4) defendant Rick Alden and Ptarmagin, an entity controlled by Alden, engaged in unusual insider selling and realized proceeds in excess of $4 million with full knowledge of the undisclosed materially adverse facts alleged herein; and (5) as a result, Defendants' statements about Skullcandy's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
Following this news entering the market, investors suffered damages.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint and join the action, visit the firm's website: http://www.bgandg.com/#!skul/qjb2t. To discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Skullcandy, Inc. you have until April 12, 2016 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
ReleaseID: 438482
