Skechers: Executives Sued Over Billion-Dollar Fraud
A proposed class of shareholders, led by private investment fund SM Merger/Arbitrage L.P., filed a lawsuit in the Central District of California on Wednesday, accusing Skechers executives, private equity firm 3G Capital, and financial adviser Greenhill & Co. of orchestrating a multibillion-dollar fraud scheme to artificially depress Skechers' stock value ahead of a shareholder buyout.
The lawsuit alleges that Skechers leaders manipulated financial projections, disseminated false and misleading statements, and omitted critical facts to facilitate a discounted buyout by 3G Capital. This alleged scheme culminated in Skechers being taken private for $9.4 billion in September 2025. The plaintiffs contend that the
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