Entwistle & Cappucci LLP and Susman Godfrey L.L.P. today announced that they filed a class action complaint (“Complaint”) against Skechers U.S.A., Inc. (“Skechers” or the “Company”) and certain of its officers and directors (collectively, the “Skechers Defendants”), as well as 3G Capital Partners L.P., Greenhill & Co., LLC and related defendants (collectively, “Defendants”) on behalf of a class (the “Class”) consisting of all persons or entities that sold shares of Skechers Class A common stock from April 24, 2025 through September 12, 2025, including those who sold shares in the Take-Private acquisition (the “Take-Private Acquisition”) of Skechers by 3G Capital Partners L.P. and its affiliates on September 12, 2025.

The action (“Action”) seeks to recover losses on behalf of Class members that were damaged as a result of an alleged scheme to deflate the price of Skechers stock through materially false and misleading statements and omissions of material facts in the April 24, 2025 Information Statement and related public reports concerning the Take-Private Acquisition, as well as other allegedly deceptive acts. Among other things, the Complaint alleges that the Skechers Defendants (i) falsely asserted that the Take-Private Acquisition and the $63 per share consideration were fair, (ii) made materially misleading statements about the mixed merger consideration and the impact of the U.S. and China tariffs on the Company, and (iii) misled investors about strategic alternatives and purported efforts to explore such alternatives. The Complaint further alleges that certain Defendants, including 3G Capital and Greenhill, engaged in a scheme and course of conduct to deceive Skechers shareholders. The misstatements, omissions and other wrongdoing set forth in the Complaint allegedly caused Class members to sell or exchange Skechers Class A common stock at artificially deflated prices and forgo their statutory right to appraisal.

The Action was filed in the United States District Court for the Central District of California and is captioned: SM Merger/Arbitrage, L.P. v. Skechers U.S.A., Inc., et al., No. 2:26-cv-12327. The Complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule 10b-5, promulgated thereunder.

If you wish to serve as a lead plaintiff in this matter, you must file a motion with the Court no later than December 21, 2026. Any member of the proposed Class may move the Court to serve as a lead plaintiff through counsel of their choice, or they may choose to do nothing and remain a member of the Class.

If you wish to discuss this Action or have any questions concerning this notice or your rights or interests, please contact: Robert N. Cappucci, Esq. of Entwistle & Cappucci at (212) 894-7200 or via e-mail at rcappucci@entwistle-law.com, or Krysta Kauble Pachman, Esq. of Susman Godfrey at (310) 789-3100 or via email at kpachman@susmangodfrey.com.

About Entwistle & Cappucci

Entwistle & Cappucci is a national law firm providing exceptional legal representation to clients in the most complex and challenging legal matters. Our practice encompasses all areas of litigation, corporate transactions, bankruptcy, insurance, corporate investigations and white-collar defense. Our clients include public and private corporations, major hedge funds, public pension funds, governmental entities, leading institutional investors, domestic and foreign financial services companies, emerging business enterprises and individual entrepreneurs. For more information, visit www.entwistle-law.com.

About Susman Godfrey

For 40 years, Susman Godfrey has focused its nationally recognized practice on just one thing: high-stakes commercial litigation. It is one of the nation’s leading law firms, with offices in Houston, Seattle, Los Angeles and New York. For more information, visit www.susmangodfrey.com.

Media gallery

About The Author
Business Wire