Key Developments: Skechers USA Inc (SKX)

SKX on New York Consolidated

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11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Skechers USA Inc sues Fila for infringing on Skechers Go Walk product line
Thursday, 10 Jul 2014 09:00am EDT 

Skechers USA Inc:Announces that it filed a lawsuit against Fila U.S.A. Inc. for selling footwear that infringes on the popular SKECHERS GO WALK product line.Suit, filed in the United States District Court for the Central District of California, seeks compensatory and punitive damages as well as injunctive relief for infringing on SKECHERS ' patent and trade dress rights and for unfair competition and dilution.Suit states that Fila is selling the infringing products under the name Fila Amazen Memory Moc.  Full Article

Skechers USA Inc sues Reebok for infringing on SKECHERS GO WALK Footwear Line
Thursday, 19 Jun 2014 09:05am EDT 

Skechers USA Inc:Filed lawsuit against Reebok International Limited for selling footwear that infringes on the popular SKECHERS GO WALK product line.Says suit, filed in the United States District Court for Central District of California, seeks compensatory and punitive damages as well as injunctive relief for infringing on SKECHERS ' patent and trade dress rights and for unfair competition.Says suit states that Reebok is selling infringing products under the name Reebok Walk Ahead RS.  Full Article

Skechers USA Inc Appoints BDO USA, LLP As New Auditors
Wednesday, 24 Apr 2013 04:05pm EDT 

Skechers USA Inc announced that the Audit Committee of its Board of Directors has appointed BDO USA, LLP (BDO) as the Company's independent auditors. BDO will commence work immediately with the re-audit of the Company's financial statements for the fiscal years ended December 31, 2011 and 2012, as well as reviewing the financial statements for the first quarter of 2013. The appointment of BDO was made after an extensive evaluation process by the Company`s Audit Committee. As previously announced, the change in auditors was the result of KPMG LLP`s ("KPMG") resignation as Skechers` independent auditors, due to the impairment of KPMG's independence resulting from to its now former partner's alleged unlawful activities. The resignation of KPMG was not related to Skechers` financial statements, its accounting practices, the integrity of Skechers' management, or for any other reason.  Full Article

Skechers USA Inc Issues Q1 2013 Mixed Guidance
Wednesday, 24 Apr 2013 04:05pm EDT 

Skechers USA Inc announced that for first quarter of 2013, it expects net sales between $440 million to $450 million and earnings per share between $0.08 to $0.12. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $433 million and EPS of $0.19 for first quarter of 2013.  Full Article

FBI Probes Trading As KPMG Quits Herbalife Ltd, Skechers USA Inc Audits-Reuters
Tuesday, 9 Apr 2013 07:09pm EDT 

Reuters reported that in a blow to one of the accounting firms, KPMG said it resigned as auditor of two U.S. corporations amid an FBI investigation into insider trading allegations involving leaked information and a former senior partner. The two California-based companies, Herbalife Ltd and Skechers USA Inc, said separately that KPMG had quit as their auditor in connection with the leaks. The FBI's Los Angeles office is investigating the matter.  Full Article

Skechers USA Inc Announces Resignation Of KPMG As Auditor
Tuesday, 9 Apr 2013 12:29pm EDT 

Skechers USA Inc announced that KPMG, LLP resigned on April 8, 2013, as independent auditor of Skechers due to misconduct by KPMG`s lead Audit Engagement Partner on the Skechers account.  Full Article

Skechers USA Inc Scores Legal Victory In Patent Suit
Thursday, 16 Aug 2012 09:00am EDT 

Skechers USA Inc announced that it scored a victory in a patent lawsuit filed against it in the United States District Court for the Central District of California. The lawsuit, Cancaribe Limited v. Cobra International Inc., Case No, 07-CV-4182-GAF, involved allegations by defendant and cross-claimant Cobra International, Inc. alleging that the circuit used in Skechers lighted footwear infringed Cobra`s patent on sequential lighting. On June 6, 2012, Cobra and Skechers entered into a settlement agreement. Cobra agreed to dismiss its lawsuit against Skechers with prejudice and release all claims against Skechers. Skechers did not pay any money and is free to continue using its lighted footwear technology without modification and without any payment or obligations to Cobra. The case settled after Skechers filed a summary judgment motion to invalidate Cobra`s patent. The terms of the settlement amounts to a complete victory for Skechers. The settlement agreement is publicly available on the Court`s database.  Full Article

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Skechers sues Fila over Go Walk shoes patent infringement

- Sports shoe maker Skechers USA Inc said it filed a lawsuit against Fila U.S.A. Inc, claiming Fila Amazen Memory Moc shoes infringed patents related to its Go Walk line.

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