Sponsors
Billabong ▲ +0.015 | PPR ▲ +2.15 | American Apparel ▲ +0.072 | The Buckle ▲ +0.25 | Columbia ▼ -1.54 | Deckers Outdoor ▼ -0.25 | Dicks ▼ -0.65 | Foot Locker ▲ +0.41 | Genesco ▲ +0.33 | Iconix Brand Group ▲ +0.17 | Jarden Corp ▲ +0.11 | Nordstrom ▲ +0.14 | Luxottica ▲ +0.23 | Nike ▼ -0.71 | Pacific Sunwear ▲ +0.14 | Skullcandy ▼ -0.01 | Sport Chalet ▼ -0.03 | Urban Outfitters ▲ +0.14 | VF Corp ▼ -0.40 | Quiksilver ▼ -0.07 | Zumiez ▲ +0.01 | Macys ▼ -0.07 | Tillys ▲ +0.09 |
Ticker Sponsor
Readers Say
Executive Edition rules
Executive Edition rules

“Shop-Eat-Surf” is now officially, the first stop in the morning for industry news. Accurate reporting, no sensationalism, and just the facts. Refreshing support to an incredible industry with a very bright future. Tiffany has cemented her role in the industry....the site is thought provoking, and inspirational. Learning the stories of others is incredibly useful. Great way to connect the retail community with the wholesale and financial, instantly and nationwide. ... And the Executive Edition rules.

- By Bob Hurley, Chairman, Hurley International
Since the inception of Executive Edition, I only need 1 stop
Since the inception of Executive Edition, I only need 1 stop

As a retailer in the surf industry for the past 21 years, I have had to use multiple sources to stay informed to the news within surf. Since the inception of the Executive Edition of Shop-Eat-Surf.com, I need only one stop. Thanks for providing such a valuable tool to all of us in the industry. Shop-Eat-Surf is a must read for all of our staff at Maui Nix.

- By George Karamitos, CEO, Maui Nix
New Industry Insight

Shorebreak Hotel as a venue for industry events. Cinematographer Louie Schwartzberg's "Moving Art Retreat" in June at Turtle Bay Resort. Details on Industry Insight.


Tiffany Montgomery
Print This Article

Zumiez shareholder suit dismissed

Zumiez shareholder suit
By
April 27, 2009 1:04 PM

Some good news for Zumiez today. Here's the release:

Zumiez Inc. Announces Dismissal of Litigation

EVERETT, Wash.--(BUSINESS WIRE)--Apr. 27, 2009-- Zumiez Inc. (NASDAQ: ZUMZ), a leading specialty retailer of action sports related apparel, footwear, equipment and accessories, today announced that shareholder litigation involving Zumiez and its officers and directors has been dismissed.

On March 30, 2009, the United States District Court for the Western District of Washington dismissed a securities class action brought against Zumiez and three of its officers and directors. The action was purportedly commenced on behalf of all individuals who purchased Zumiez stock from March 14, 2007 to January 4, 2008, and alleged that Zumiez and certain individuals made materially false or misleading statements during the proposed class period and engaged in insider trading. The defendants moved to dismiss all claims in October 2008. The Court issued its ruling on March 30, 2009 without oral argument, dismissing the case with prejudice. Following this ruling, a related shareholder derivative action, which was filed in the Superior Court for the State of Washington, Snohomish County, was voluntarily dismissed. Zumiez and its officers and directors were represented in the cases by Wilson Sonsini Goodrich & Rosati, PC.

Rick Brooks, Chief Executive Officer of Zumiez, stated: "We are pleased to have these lawsuits behind us, and agree with the district court's decision to dismiss the securities case at the earliest possible stage, which was based on its finding that the claims in that case were ‘flawed on every level.'"

About Zumiez Inc.

Zumiez is a leading specialty retailer of action sports related apparel, footwear, equipment and accessories. Our stores cater to young men and women between ages 12-24, focusing on skateboarding, surfing, snowboarding, motocross and BMX. As of April 4, 2009 we operate 350 stores, which are primarily located in shopping malls, and our web site address is www.zumiez.com.


Articles You Might Have Missed