The Klein Law Firm Reminds Investors of a Class Action Filed on Behalf of Dick’s Sporting Goods, Inc. Shareholders & a Lead...
June 06 2017 - 10:53AM
Business Wire
The Klein Law Firm announces that a class action complaint has
been filed on behalf of shareholders of Dick’s Sporting Goods, Inc.
(NYSE: DKS) who purchased shares between March 7, 2017 and May 15,
2017. The action, which was filed in the U.S. District Court
for the Southern District of New York, alleges that the Company
violated federal securities laws.
In particular, the complaint alleges that throughout the Class
Period, defendants made materially false and/or misleading
statements and/or failed to disclose that (i) the Company had
overstated its adjusted EBITDA amounts; (ii) accordingly, the
Company lacked effective internal controls; and (iii) as a result,
the Company’s public statements were materially false and
misleading. On May 12, 2017, Dick’s Sporting Goods filed a Form
8-K/A with the Securities and Exchange Commission disclosing that a
“computation error resulted in a $23.4 million overstatement of
Adjusted EBITDA amounts for both the 13 weeks and 52 weeks ended
January 28, 2017.” Then on May 16, 2017, Dick’s Sporting Goods
announced that sales at its existing stores in the first quarter of
2016 had fallen short of forecasts and advised investors that the
Company planned to scale back new store openings in 2018 and 2019.
On this news, Dick’s Sporting Good's share price fell from $47.57
per share on May 15, 2017 to a closing price of $41.04 on May 16,
2017.
Shareholders have until July 17, 2017 to petition the
court for lead plaintiff status. Your ability to share in any
recovery does not require that you serve as lead plaintiff. You may
choose to be an absent class member.
If you suffered a loss during the class period and wish to
obtain additional information, please contact Joseph Klein, Esq. by
telephone at 212-616-4899 or visit
http://www.kleinstocklaw.com/pslra-sa/dicks-sporting-goods-inc?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170606006282/en/
The Klein Law FirmJoseph Klein, Esq., 212-616-4899Fax:
347-558-9665www.kleinstocklaw.com
Dicks Sporting Goods (NYSE:DKS)
Historical Stock Chart
From Apr 2024 to May 2024
Dicks Sporting Goods (NYSE:DKS)
Historical Stock Chart
From May 2023 to May 2024