A lawsuit was filed on behalf of investors in Performance Sports Group Ltd over alleged securities laws violations and NYSE:PSG investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/06/2016 -- The Shareholders Foundation announced that a shareholder of Performance Sports Group Ltd (NYSE:PSG) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Performance Sports Group.
Investors who purchased shares of Performance Sports Group Ltd (NYSE:PSG) have certain options and for certain investors are short and strict deadlines running. Deadline: May 17, 2016. NYSE:PSG investors should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff claims that between August 27, 2015 and March 7, 2016 defendants allegedly issued false and misleading statements to investors and/or failed to disclose that Sports Authority's financial woes would impact Performance Sports Group's financial performance, that the baseball and softball markets were in decline, that the consolidation of Performance Sports Group's U.S. Hockey customers would create a smaller demand for hockey equipment, and that as a result, defendants' statements about Performance Sports Group's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On March 8, 2016, Performance Sports Group Ltd announced that it has revised its outlook for its 2016 fiscal year and reported preliminary results for its fiscal third quarter ended February 29, 2016. Shares of Performance Sports Group Ltd (NYSE:PSG) declined to as low as $2.80 per share on March 8, 2016.
On April 4, 2016, NYSE:PSG shares closed at $3.03 per share.
Those who purchased shares of Performance Sports Group Ltd (NYSE:PSG) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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