Colo. Judge Boots Shareholder Suit V. Crocs, Execs

Law360, New York (March 4, 2009, 12:00 AM EST) -- A Colorado state judge has thrown out a shareholder derivative suit alleging footwear designer Crocs Inc. and its officers and directors engaged in insider selling and misrepresented company financial reports.

In an order last week, Judge M. Gwyneth Whalen of the Boulder County District Court granted the defendants’ motions to dismiss the action with prejudice after finding a number of holes in the amended complaint. The judge ordered the plaintiff to pay the defendants’ legal costs.

“Considering the significant deficiencies of the complaint, and especially because...
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