Levi & Korsinsky announces the filing of a class action complaint in the USDC for the District of Utah, Central Division, on behalf of shareholders of Skullcandy, Inc. (NASDAQ: SKUL) who purchased shares between May 5, 2015 and January 11, 2016.
The complaint alleges that during the Class Period defendants issued materially false and misleading statements to investors and/or failed to disclose material facts, including: (a) that the Company issued false and misleading earnings guidance and (b) that the Company was experiencing challenges with its largest Chinese distributor. The complaint further alleges that the aforementioned omissions and/or misleading statements led Skullcandy to trade at artificially inflated prices, permitting certain insiders to engage in unusual insider selling and the realization of proceeds in excess of $4 million. If you suffered a loss in Skullcandy 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.
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