According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- demand for products in Dick’s Sporting Goods’ Outdoor segment was slowing faster than defendants represented, resulting in excess inventory;
- the “structural changes” that defendants repeatedly touted, including differentiated products, improved pricing technology, and more efficient clearance channels, did not allow Dick’s Sporting Goods to manage its excess inventory without hurting its profitability;
- the need to liquidate excess inventory, including in the Outdoor segment, would have a materially negative effect on Dick’s Sporting Goods’ profitability; and
- as a result of the foregoing, defendants’ statements about Dick’s Sporting Goods’ business condition and prospects were materially false and misleading when made.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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