A Skechers shareholder has filed a lawsuit against the footwear company, seeking to block its planned $9.4 billion acquisition by private equity firm 3G Capital.
The proposed deal, announced earlier this month, would see 3G take the sneaker brand private at $65 per share in cash.
The plaintiff, investor Christopher Taylor, alleges the company and its board failed to secure the best possible deal for shareholders and withheld critical financial details in the regulatory filings related to the buyout.
The complaint, filed in Manhattan federal court, argues that Skechers’ disclosures omit key projections and valuation analyses needed for investors to properly assess the deal.
3G Capital is best known for its investments in major consumer brands, including Burger King, Kraft Heinz, and Anheuser-Busch.
The Skechers buyout would represent one of its largest footwear acquisitions.
Skechers has yet to respond publicly to the lawsuit. The company’s board approved the transaction earlier in May, and a shareholder vote is expected in the coming months.
If successful, the deal would mark the latest in a wave of retail privatizations as companies seek shelter from public market volatility.
Case details: Key West Police Officers & Firefighters Retirement Plan v Skechers USA Inc et al, US District Court, Central District of California, No. 25-04863.
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