SHOO was looking interesting until I found this in a SEC filing. Any comment?
CERTAIN RECENT DEVELOPMENTS
On June 20, 2000, Steven Madden, the Company's former Chairman and current Chief
Executive Officer, was indicted in the Southern District and Eastern District of
New York. The indictments allege that Mr. Madden engaged in securities fraud and
money laundering activities. In addition, the Securities and Exchange Commission
filed a complaint in the United States District Court for the Eastern District
of New York alleging that Mr. Madden violated Section 17(a) of the Securities
Act of 1933, as amended, and Section 10(b) of the Securities Exchange Act of
1934, as amended.
Neither the indictments nor the SEC complaint alleges any wrongdoing by the
Company or its other officers and directors. Mr. Madden has denied any improper
conduct and has advised the Company that he will vigorously defend himself
against any and all charges. See Part II, Legal Proceedings.
On June 21, 2000, Steven Madden resigned as Chairman of the Board of Directors
and the Company appointed Charles Koppelman as acting Chairman of the Board. Mr.
Koppelman has been a director of the Company since June 1998. Mr. Madden
continues to serve as the Company's Chief Executive Officer. |
