Lead Plaintiff Deadline is April 12, 2016

NEW YORK, Feb. 19, 2016 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP  announces that a class action lawsuit has been filed in United States District Court for the District of Utah against Skullcandy, Inc. (NASDAQ:SKUL) (the “Company”) on behalf those individuals and/or entities that purchased securities from August 7, 2015 and January 11, 2016, inclusive (the “Class Period”).

Shareholders who incurred losses on  Skullcandy, Inc. securities purchased within the class period are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.

If you purchased shares of Skullcandy, Inc. within the period August 7, 2015 and January 11, 2016, inclusive, you may, no later than April 12, 2016, request that the Court appoint you lead plaintiff of the proposed class.

Throughout  the Class Period defendants issued materially false and  misleading statements to investors and failed to disclose that: (1) Skullcandy’s revenue and net income guidance for the third quarter and full year 2015 were unattainable; (2) Skullcandy’s revenue and net income guidance for the fourth quarter and full year 2015 were unattainable; (3) Skullcandy faced challenges with its largest Chinese distributor; (4) defendant Rick Alden and Ptarmagin, an entity controlled by Alden, engaged in insider selling and realized proceeds in excess of $4 million with knowledge of undisclosed materially adverse facts; and (5) as a result, defendants’ statements about Skullcandy’s business, operations, and prospects were false and misleading and lacked a reasonable basis.

On January 11, 2016, Skullcandy issued a press release updating the company’s financial outlook for the fourth quarter of 2015 and announced that the company had missed its quarterly net sales projections. Following this news, Skullcandy stock fell $1.29, more than 28%, to close at $3.26 per share on January 12, 2016.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.  All e-mail correspondence should make reference to the “Skullcandy Investigation.”

Attorney Advertising. Prior results do not guarantee or predict a similar outcome.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP 
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.