San Diego, CA -- (SBWIRE) -- 03/27/2018 -- An investor, who purchased shares of Foot Locker, Inc. (NYSE:FL), filed a lawsuit against Foot Locker, Inc over alleged Securities Laws violationsin connection with certain allegedly false and misleading statements.

Investors who purchased shares of Foot Locker, Inc. (NYSE:FL) have certain options and for certain investors are short and strict deadlines running. Deadline: May 8, 2018. NYSE:FL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff claims that between August 19, 2016 and August 17, 2017, the defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding Foot Locker's business and prospects, including that Foot Locker's vendors were transitioning to selling through various online retailers, diminishing the utility of Foot Locker's large number of brick and mortar stores and the once-high value of its exclusivity relationships with those vendors, and that competition with online retailers had increased the pricing competition Foot Locker faced while also materially lowering the demand at Foot Locker stores. As a result of defendants' failure to disclose this adverse information, the price of Foot Locker stock was artificially inflated to as high as $79.20 per share during the Class Period and Foot Locker senior executives, including the individuals defendants, were able to sell over 192,000 shares of their personally held Foot Locker stock at artificially inflated prices for gross proceeds of $13.3 million.

Those who purchased shares of Foot Locker, Inc. (NYSE:FL) 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