In Re: Crocs Inc. Securities Litigation
Published: Apr. 30, 2011 | Result Date: Feb. 28, 2011 | Filing Date: Jan. 1, 1900 |Case number: 07-cv-02351-PAB Bench Decision – Dismissal
Court
USDC Colorado
Attorneys
Plaintiff
Charles J. Piven
(Brower Piven APC)
Defendant
Erik J. Olson
(Morrison & Foerster LLP)
Stacey Sprenkel
(Morrison & Foerster LLP)
Facts
Several plaintiffs filed federal securities class action complaints against Crocs, Inc., Crocs's auditor, and current and former officers and directors of Crocs. Crocs specializes in making lightweight footwear.
Contentions
PLAINTIFFS' CONTENTIONS:
Plaintiffs alleged that the violated the federal securities laws by knowingly making false or misleading statements.
DEFENDANTS' CONTENTIONS:
Defendants argued that its statements were not false or misleading. Further, defendants claimed that plaintiffs did not sufficiently conform to pleading requirements of the Private Securities Reform Act of 1995, and did not allege facts that would show a strong inference of scienter.
Result
The court granted defendants' motion to dismiss.
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