Two lawsuits have been filed by shareholders in plastic clog maker Crocs Inc, accusing the company's top executives of making "false and misleading" statements about the company's operations.

Between 27 July and 31 October, shareholders bought stock in the company worth $58m.

But the lawsuits allege Crocs executives withheld information about distribution problems in Europe and Japan, unseasonal weather dampening sales, and growing inventory levels.

When this information was revealed following the third-quarter earnings report, Crocs' share price plummeted from $74.75 to $47.74.

Crocs says it intends to defend the lawsuits.