Crocs facing possible suit despite earnings hike
BOULDER — Crocs Inc. (Nasdaq: CROX) might be served with a class-action lawsuit following a 47 percent decline in its stock price.
A lawsuit being compiled by New York-based Coughlin Stoia Geller Rudman & Robbins LLC accuses the Boulder-based shoemaker of issuing “material false and misleading statements” in regards to distribution issues, seasonal sale conditions and inventory levels. The law firm issued a press release Thursday seeking an individual or organization to serve as the lead plaintiff in the case.
On Oct. 31, Crocs issued its third quarter results with revenues of $256.3 million — up 130 percent from third quarter 2006…
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