Skechers to Pay $1.25 Million to Settle Undisclosed Payment Charges
By Ben Glickman
Skechers U.S.A. will pay a $1.25 million penalty to settle charges that it didn't disclose payments to executives and their families.
The Securities and Exchange Commission said on Thursday that from 2019 to 2022 Skechers failed to disclose its employment of two relatives of executives, and didn't disclose a consulting relationship involving one person who shared a household with an executive.
The SEC also alleged Skechers failed to disclose that two executives owed more than $120,000 to the company for personal expenses.
Skechers agreed to a cease-and-desist order and the civil penalty. The company didn't admit or deny the findings.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
March 07, 2024 17:39 ET (22:39 GMT)
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