Briscoe Law Firm And Powers Taylor, LLP Announce Investigation Of Skechers USA, Inc. For Possible Breaches Of Fiduciary Duties

Former United States Securities and United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announced that the firms are investigating legal claims against the officers and Board of Directors of Skechers USA, Inc. (Skechers or SKX) for potential breaches of fiduciary duties. Specifically, on May 16, 2012, Skechers announced it had entered into a $45 million global settlement agreement to dispose of all legal claims brought by the United States Federal Trade Commission and multiple states` Attorneys Generals relating to allegations that it made unsupported advertising claims in connection with marketing its line of toning shoes. According to shareholder rights attorney Willie Briscoe, The recent revelations that Skechers may have engaged in improper marketing and advertising efforts that resulted in a $45 million settlement payout are troubling. Based on our investigation, we are prepared to institute litigation to preserve the company and the value of Skechers stock for all shareholders.