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STEVEN BOURRET v CUTTER & BUCK INC Click to find out why . . .



Keywords & Phrases
CaseNo: SBVCBI169926, CourtName: MISC 3, Plaintiff: STEVEN BOURRET, State: WA Washington, UniqueCaseRef: LCD>SBVCBI169926, Buck, Financial Statements, Cutter, Reports, Accounting, Violation, Securities, Investors, Class Period, Misleading, Act, Operating, Restatement, Gaap, Fasb Statement, Enterprise, Officers, Accounting Principles, Disclosure, Retail, Individual Defendants, Market, Resources, Regulation, Creditors, Expectations, Purchases , ContentID: 120253781

Case Documents
1 2000-06-23 CLASS ACTION COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 130192
29 pages
PDF
Total Documents: 1 document , 29 pages
Price: $ 19.95


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1 . CLASS ACTION COMPLAINT

EXTRACTED KEY WORDS
FINANCIAL STATEMENTS
CUTTER
REPORTS
ACCOUNTING
VIOLATION
DEFENDANTS
SECURITIES
INVESTORS
CLASS PERIOD
MISLEADING
ACT
OPERATING
RESTATEMENT
GAAP
FASB STATEMENT
ENTERPRISE
OFFICERS
BUSINESS
ACCOUNTING PRINCIPLES
DISCLOSURE
PLAINTIFF
RETAIL
INDIVIDUAL DEFENDANTS
MARKET
RESOURCES
REGULATION
CREDITORS
EXPECTATIONS
PURCHASES

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 7                                           UNITED STATES DISTRICT COURT
                                     FOR THE WESTERN DISTRICT OF WASHINGTON
 8                                                        AT SEATTLE

 9
10     STEVEN BOURRET, On Behalf of Himself
       and All Others Similarly Situated,
11                                                                           No.
        Plaintiff,

12                                                                           CLASS ACTION COMPLAINT
        v.                                                                   VIOLATION OF THE
13                                                                           SECURITIES LAWS
       CUTTER & BUCK, INC., HARVEY N.
14     JONES and STEPHEN S. LOWBER,

15      Defendants.

16
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                                                    I. INTRODUCTION
18
                   1.            This is an action on behalf of purchasers of Cutter & Buck, Inc.
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       Buck" or the "Company") publicly traded securities during the period from June 23, 2000 to
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       August 12, 2002 (the "Class Period") against Cutter & Buck and its senior officers for
21
       of the Securities Exchange Act of 1934 ("1934 Act").  Cutter & Buck designs and markets
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       upscale men's and women's sportswear and outerwear under the Cutter & Buck brand.  The
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       Company sells its products primarily through golf pro shops and resorts, corporate accounts,
24
       specialty retail, and Company-owned retail stores.
25

26


SNIPPETS:
  • Buck" or the "Company") publicly traded securities during the period from June 23,
  • 2002 (the "Class Period") against Cutter & Buck and its senior officers for violation
  • of the Securities Exchange Act of 1934.
  • specialty retail, and Company-owned retail stores.
  • artificially inflated levels through the issuance of false and misleading financial
  • Buck Announces Discovery of Accounting Irregularities in Fiscal Years 2000 and 2001; Reports
  • defendant Cutter & Buck and/or the individual defendants conduct business in and the wrongful
  • Buck Reports First Quarter Fiscal Year 2002 Operating Results."
  • 20 Cutter & Buck's results and were presented in violation of Generally Accepted Accounting
  • SEC Regulation S-X ) states that financial statements
  • despite footnote or other disclosure.
  • interim financial statements must also comply with GAAP,
  • 11 Accounting Principles Board Opinion No. 20, the type of restatement announced by
  • 14 of recognizing an accounting change as it dilutes confidence by investors in the financial
  • investment, credit and similar decisions was violated (FASB Statement of Concepts No. 1, &34);
  • economic resources of an enterprise, the claims to those resources, and effects of
  • Investors and creditors often
  • those expectations are commonly based at least partly on evaluations of past
  • Plaintiff
  • fraud or deceit upon plaintiff and others similarly situated in connection with their
  • of the market, they paid artificially inflated prices for Cutter & Buck publicly traded
  •    |