In the “Legal Proceedings” section of Skullcandy’s final prospectus filed with the SEC before the company went public last week, there was a little bit about settlements for “an immaterial amount” made to three employees relating to alleged “improper workplace conduct by Rick Alden, our former CEO” in March 2011.
Our board of directors conducted an independent investigation regarding these complaints, discussed the facts and circumstances with the individuals involved, and ultimately determined to settle each complaint for an immaterial amount.
Not surprisingly, Rick Alden stepped down on March 23, 2011. And, if we’re not mistaken, wasn’t the Transworld Snowboarding Industry Conference in March as well? Oh, the ides. . .
[Link via Shop Eat Surf]
Connections between the Transworld Conference and the CEO being “relieved” of his position are not coincidence…..If you actually saw the CEO speak at the conference, you would understand why it was necessary for him to “step down”…..And since when does “improper work place conduct” = sexual harassment?? ….Just sayin…..
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