Crocs(CROX) Prnewswire·2025-02-27 10:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Crocs, Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements about its financial performance and the sustainability of revenue growth from its HEYDUDE brand [1][2]. Summary by Relevant Sections Allegations - The complaint claims that during the class period from November 3, 2022, to October 28, 2024, Crocs, Inc. failed to disclose that the revenue growth of HEYDUDE was largely due to stocking third-party wholesalers and retailers following its acquisition in February 2022 [1]. - It is alleged that as retail partners began to destock excess inventory, the demand for products decreased, negatively impacting Crocs' financial results [1]. - The representations made by the defendants regarding the company's business operations and prospects were claimed to be materially false and misleading [1]. Class Action Details - Shareholders who purchased shares of CROX during the specified class period are encouraged to register for the class action, with a deadline of March 24, 2025, to seek lead plaintiff status [2]. - Participants will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle, with no cost or obligation to participate [2]. Firm's Mission - The Gross Law Firm is recognized for its commitment to protecting investors' rights and ensuring companies adhere to responsible business practices [3]. - The firm aims to recover losses incurred by investors due to false or misleading statements that led to artificial inflation of the company's stock [3].