Skechers fined $1.25M over related person disclosure failures


Footwear company Skechers agreed to pay $1.25 million to settle charges by the Securities and Exchange Commission (SEC) of failing to disclose payments to executives’ family members.

Skechers U.S.A. agreed to cease and desist from further violations in reaching settlement, the SEC announced in a press release Thursday. The agency acknowledged remedial acts promptly undertaken by the company and cooperation afforded to commission staff.

From 2019 through 2022, Skechers failed to disclose related person transactions involving two relatives of its executives and a consulting relationship involving a person who shared a household with another executive, the SEC alleged in its order.

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