Uggs Maker Dodges Class Action Over Stock Plunge

Law360, Chicago (July 8, 2013, 8:57 PM EDT) -- A Delaware federal judge on Monday tossed a putative class action brought by an options investor alleging that Deckers Outdoor Corp., the maker of Ugg boots, and its top brass deceived investors about the company’s financial outlook.

In a 17-page opinion, U.S. District Judge Sue L. Robinson dismissed the complaint without leave to amend, finding that plaintiff Michael Percoco had not adequately pled that Deckers executives had acted with scienter — a state of mind where they knowingly intended to mislead or defraud investors.

Percoco launched...
To view the full article, register now.