San Diego, CA -- (SBWire) -- 06/07/2017 --An investor in NYSE:DKS shares filed a lawsuit against Dicks Sporting Goods Inc over alleged Securities Laws violations in connection with certain allegedly false and misleading statements.
Investors who purchased a significant amount of shares of Dicks Sporting Goods Inc (NYSE:DKS) have certain options and for certain investors are short and strict deadlines running. Deadline: July 17, 2017. NYSE:DKS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Dicks Sporting Goods Inc (NYSE:DKS) common shares between March 7, 2017 and May 15, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 7, 2017 and May 15, 2017, the Defendants made false and/or misleading statements and/or failed to disclose that Dicks Sporting Goods Inc's had overstated its adjusted EBITDA amounts, that accordingly, the Company lacked effective internal controls, and that as a result of the foregoing, Dicks Sporting Goods Inc's public statements were materially false and misleading at all relevant times.
On May 12, 2017, Dicks Sporting Goods Inc reported 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."
On May 16, 2017, Dicks Sporting Goods Inc 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.
Shares of Dicks Sporting Goods Inc (NYSE:DKS) declined on June 6, 2017 to $38.74 per share.
Those who purchased shares of Dicks Sporting Goods Inc (NYSE:DKS) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
NYSE:DKS Shareholder Alert: Lawsuit Alleges Misleading Statements by Dicks Sporting Goods
A lawsuit was filed on behalf of investors in Dicks Sporting Goods Inc (NYSE:DKS) shares over alleged securities laws violations.