Law Firm of Levi & Korsinsky Notifies Investors With Losses On Investment In Deckers Outdoor Corporation

Law Firm of Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Deckers Outdoor Corporation stock between October 27, 2011 and April 26, 2012. The complaint alleges that defendants made materially false and misleading statements regarding the Company's business operations, financial condition and prospects. According to the complaint, during the class period defendants concealed that: the Company was unable to mitigate the effects of dramatically increasing prices for sheepskin; due to unusually warm weather, the Company was experiencing a steeper decline in demand than was represented; the Company's expansion resulted in the over-supply of UGG products, thus making price increases for those products ineffective; the Company's inventory levels for its UGG brand were increasing rapidly, which led to the increased use of mark-downs and close-outs; as a result, the Company's gross margin was negatively impacted; and based on the above, defendants lacked a reasonable basis for their positive statements about the Company and its revenue outlook.