Crocs Shareholder Action Gets The Boot

Law360, New York (March 1, 2011, 2:29 PM EST) -- A federal judge in Colorado on Monday tossed a putative class action that accused Crocs Inc. of concealing its financial state in advance of a 2008 announcement that it was taking a write-down of more than $70 million of inventory.

Judge Philip A. Brimmer of the U.S. District Court for the District of Colorado dismissed in its entirety a consolidated class action complaint against the shoe company, its executives and its auditor, Deloitte & Touche LLP, ruling the plaintiffs had not sufficiently pled fraud.

The complaint...
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