Violations of federal securities laws as a result of a series of materially false statements. According to the Complaint, Quiksilver made false and/or misleading statements and/or failed to disclose that: (1) it lacked adequate internal controls over financial reporting; and (2) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times. The Complaint alleges that when the true details entered the market, investors suffered damages. Filed in C.D. Cal.
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