11:21 AM EDT, 05/30/2025 (MT Newswires) -- Skechers U.S.A (SKX) was sued Friday in federal court by the Key West Police Officers & Firefighters Retirement Plan over its $9.4 billion go-private deal with private equity firm 3G Capital.

The merger agreement offers Skechers shareholders, including the plaintiff, either a full cash consideration option of $63 per share in cash or a mixed consideration option of $57 per share in cash plus one unit of the new LLC that will own the privately-held Skechers. The agreement provides that Skechers shareholders must elect a consideration five business days before the deal closing date.

The merger is subject to a Securities and Exchange Commission rule that "prohibits such a transaction unless the issuer and its affiliates engaging in the transaction file with the SEC to disseminate to the issuer's stockholders a Schedule 13E-e containing specified disclosures. Neither Skechers nor the Greenbergs have done so, and they have made no representation that they intend to do so," the suit said.

Skechers did not immediately reply to a request for comment from MT Newswires.

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