Glancy Prongay & Murray LLP Advises Quiksilver, Inc. Investors Of The June 1, 2015 Lead Plaintiff Deadline
May 11 2015 - 10:30AM
Business Wire
Glancy Prongay & Murray LLP reminds investors of the
June 1, 2015 deadline by which to file a lead plaintiff motion in
the class action pending in the United States District Court for
the Central District of California on behalf of a class (the
“Class”) comprising purchasers of the securities
of Quiksilver, Inc. (“Quiksilver” or the “Company”)
(NASDAQ:ZQK) between June 6, 2014 and March 26, 2015, inclusive
(the “Class Period”). Investors who purchased Quiksilver securities
during the Class Period are encouraged to contact Lesley Portnoy,
at (310) 201-9150, or by e-mail to shareholders@glancylaw.com, to
discuss this matter.
Between March 4, 2015 and March 27, 2015 the Company revealed
several significant issues concerning the Company’s operations and
future prospects. Specifically, the Company disclosed that: 1)
Quiksilver would delay its first quarter earnings report due to its
audit committee investigation of a “revenue cut-off issue”; 2)
Quiksilver’s internal control over financial reporting were not
effective as of October 31, 2014; 3) the Company’s Chairman and
CEO, Andrew P. Mooney was removed from his post; and, 4) the
Company’s Chief Financial Officer, Richard Shields, abruptly
resigned. On this news, shares of Quiksilver sharply declined
thereby damaging investors.
The lawsuit seeks to recover damages caused by the sharp decline
in the Company’s stock price following the disclosure of these
material issues with Quiksilver, its accounting practices,
operations and management. Specifically, the complaint alleges that
the Company lacked adequate internal controls and accounting
practices, and misled investors through its public disclosures and
financial reporting during the Class Period.
To be a member of the Class you need not take any action at this
time; you may retain counsel of your choice or take no action and
remain an absent member of the Class. If you wish to learn
more about this action, or if you have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy,
Esquire, of Glancy Prongay & Murray LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150,
by e-mail to shareholders@glancylaw.com, or visit our website
at http://www.glancylaw.com. If you inquire by email, please
include your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com