Crocs, Investors Work Out $9M Deal In Fraud Class Action

Law360, New York (May 14, 2012, 8:57 PM EDT) -- Crocs Inc. on Monday agreed to pay $10 million to partially settle a putative class action accusing it of concealing its financial state in advance of an announcement that it was taking a write-down of more than $70 million of inventory.

The plaintiffs suing the shoe company say it is an appropriate and fair resolution to the dispute pending in Colorado federal court.

“Counsel for the settling parties have extensive experience in securities litigation and believe this settlement is fair, reasonable and adequate in light of...
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