WAYNE, Pa., Jan. 12, 2016 /PRNewswire/ -- Ryan & Maniskas, LLP has commenced an investigation into potential securities law violations by certain officers of Skullcandy, Inc. ("Skullcandy" or the "Company") (NASDAQ: SKUL).
Skullcandy shareholders who purchased shares between August 7, 2015 through January 11, 2016 should contact Richard A. Maniskas, Esquire at 877-316-3218 or at firstname.lastname@example.org to learn more about this investigation or visit: www.rmclasslaw.com/cases/skul.
On January 11, 2016, Skullcandy announced after backing out a $1.6M pre-tax allowance for a bad debt charge related to "further challenges with a China distributor," that the Company now expects Q4 GAAP EPS of $0.25-$0.27, below prior guidance of $0.38-$0.40 and a $0.37 consensus.
The Company also announces it has bought out the minority interest in its Mexican JV; the purchase price is undisclosed. Skullcandy: "The Skullcandy brand has resonated extremely well with consumers in [Mexico] since launching a few years ago. By working directly with our retail partners combined with additional demand creation investments, we believe we can accelerate sales growth and increase our market share at a faster pace."
On this news, shares of Skullcandy fell $1.29 per share or 28.35% to close at $3.26 per share on heavy volume.
If you own Skullcandy shares and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free: (877) 316-3218 or visit: www.rmclasslaw.com/cases/skul. You may also email Mr. Maniskas at email@example.com. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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