52-16 Barnett Ave.
Steve Madden; Fashion Director
|Revenue||$431.0 million USD (2007)|
Steve Madden, Ltd. was named "Company of the Year" for 2006 at the Footwear News Achievement Awards in New York City on December 5, 2006. Madden said, in accepting the award, that he was going to use it as a stepping-off point for improving his company's image.
In June, 2000, a class action lawsuit was filed against Steve Madden for issuing materially false and misleading statements during the Class Period. A settlement of $9,000,000 was reached at last in 2004. In 2001, the SEC filed charges against Madden in Federal Court in New York state, alleging SEC violations. Because the violations weren't criminal in nature, the SEC was seeking to recover $1,637,000 in a combination of illegally avoided losses, interest, and a civil penalty.
In 2002, Madden was convicted of stock manipulation, money, and securities fraud. He was sentenced to 41 months in prison, and was made to resign as CEO from Steve Madden Ltd and from the board of directors.
Shortly after resigning as CEO, Madden set himself up as a creative consultant with Steve Madden Ltd., a position for which he drew $700,000 even when he was in prison.
Madden served in a federal prison at Eglin Air Force Base, and later Coleman Federal Correctional Complex, near Ocala FL. Madden was released from prison in April 2005. He then attended a New York City halfway house. Madden's attorney, Joel Winograd, said that Madden would stay at the house for 60 days. After his release from a halfway house, he was restricted to home confinement for a period.
He is currently married to Wendy Ballew, his former director of operations. The couple has three children.
There are roughly 200 Steve Madden retail stores across the United States. While the company and its stores focus primarily on Steve Madden products, they also carry two more subcategorized Steve Madden lines; Madden Girl and STEVEN by Steve Madden.
- Dominguez, Robert. "BRINGING IT BACK HOME. Steve Madden's new ad campaign focuses on his fashion center - Queens", Daily News (New York), October 19, 2006. Accessed September 15, 2008. "He grew up in Lawrence, L.I., where he worked in shoe stores from his high-school days until he started his own business in 1990, at 33, with an investment of just $1,100."
- http://www.zwire.com/site/news.cfm?newsid=17670611&BRD=1601&PAG=461&dept_id=479855&rfi=6 Steve Madden, Ltd. wins top honor Footwear News bestows shoe business with 'Company of the Year' award
- "Class Action Against Steve Madden".
- "Steve Madden, Ltd. case".
- Walker, Rob (10 April 2002). "Genius of Capitalism: Steve Madden". Slate. Retrieved 28 October 2010.
- Setoodeh, Ramin. "Back on His Feet Again." Newsweek. 2007. 1. Retrieved on January 10, 2010.
- "MADDEN BACK IN NYC AFTER PRISON RELEASE.(Steve Madden, New York City)(Brief Article)." Footwear News. April 25, 2005. Retrieved on January 10, 2010.
- "Steve Madden released from federal prison." Newsday. April 16, 2005. Retrieved on January 10, 2010.
- Bonawitz, Amy. "Passages." People. June 27, 2005. Volume 63, No. 25. Retrieved on January 10, 2010.
- Ron Telpner, Marketing Magazine: "Ron's Red Shoe Diary". Toronto: Rogers Publishing, September 8, 2003.
- Steve Madden: Crisis of the Sole 2001 New York article on Stratton Oakmont and their client Steve Madden.