Class action lawsuit filed against Skechers over 2025 privatization
Law firm Berger Montague has launched a class action lawsuit against Skechers U.S.A., Inc., alleging executive misconduct during the company's 2025 take-private transaction.
Plaintiffs' law firm Berger Montague has initiated a class action lawsuit against Skechers U.S.A., Inc. following the company’s $9.4 billion take-private transaction in September 2025. The litigation claims that senior executives, including CEO Robert Greenberg and President Michael Greenberg, manipulated the company's valuation to facilitate an acquisition at an artificially low price of $63 per share.
The complaint alleges that the executives collaborated with 3G Capital and financial advisor Greenhill & Co. to secure the deal. According to the filing, management systematically lowered financial projections three times in April 2025 and cited trade policy concerns to justify the withdrawal of guidance, despite internal assessments suggesting minimal impact on business performance. The lawsuit contends that these actions were designed to depress the stock price and force out unaffiliated shareholders.
Furthermore, the plaintiffs allege that crucial details regarding the exclusivity of the engagement with 3G Capital were omitted from official disclosures. The lawsuit seeks to represent investors who sold securities or received the merger consideration during the class period of April 24, 2025, through September 12, 2025.
Investors wishing to be appointed as a lead plaintiff have until December 21, 2026, to file an application. Skechers, formerly listed on the New York Stock Exchange under the ticker SKX, ceased public trading upon the completion of the merger.