SAN DIEGO, Apr. 13, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of Quiksilver, Inc. (NYSE:ZQK) over alleged Violations of Federal Securities Laws by Quiksilver in connection with certain allegedly false and misleading statements.
Investors who purchased a significant amount of shares of Quiksilver, Inc. (NYSE:ZQK) between June 6, 2014 and March 26, 2015, and/or investors who purchased any (NYSE:ZQK) shares prior to June 2014 and continue to hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: June 1, 2015. (NYSE:ZQK) investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that Quiksilver, Inc. made allegedly false and/or misleading statements and/or failed to disclose that Quiksilver, Inc. lacked adequate internal controls over financial reporting and that as a result of the foregoing, Quiksilver’s financial statements were materially false and misleading at all relevant times.
On March 4, 2015, Quiksilver, Inc. announced that it has postponed the distribution of its 2015 first quarter earnings release, as well as the related conference call and webcast previously scheduled to take place on March 5th, as a result of a revenue cut-off issue identified by management and brought to the attention of the Audit Committee. Quiksilver, Inc. said the Audit Committee promptly commenced an investigation the week before and has not yet reached any conclusions.
On March 26, 2015, Quiksilver, Inc filed an amended Form 10-K for the fiscal year ended October 31, 2014 with the Securities and Exchange Commission (“SEC”). On March 27, 2015 Quiksilver, Inc announced that the President of Quiksilver, Inc. has been promoted to Chief Executive Officer and added to the Board of Directors; he succeeded Andy Mooney who is no longer with the company. Quiksilver, Inc also said that Quiksilver’s APAC Region President has been promoted to President ofQuiksilver, Inc., and Bob McKnight has been appointed Chairman.
The lawsuit seeks to recover damages for certain Quiksilver investors.
Those who purchased Quiksilver, Inc. (NYSE:ZQK) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.