03:56 PM EST, 03/08/2024 (MT Newswires) -- Skechers U.S.A. (SKX) has agreed to pay $1.25 million to the US Securities and Exchange Commission to settle failure to disclose more than $120,000 owed by two executives and business relationships with families of some executives.

Skechers failed to disclose it had employed two relatives of the executives, the securities watchdog said Thursday. It also did not disclose a consulting relationship with a person sharing a household with one of its executives. Additionally, the company paid more than $120,000 for personal expenses of two executives who had not yet reimbursed the amounts to the company.

Skechers agreed to the fine and a cease-and-desist order without admitting or denying the charges.

Skechers shares were nearly 2% lower.

Price: 60.00, Change: -1.14, Percent Change: -1.86