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.

Documents

Related

Sections

Case Information

Case Title

Percoco v. Deckers Outdoor Corporation et al


Case Number

1:12-cv-01001

Court

Delaware

Nature of Suit

Securities/Commodities

Judge

Sue L. Robinson

Date Filed

August 1, 2012

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.