Dick's Sporting Goods (DKS) Missed Guidance Case

W.D. Pennsylvania

Court

2:24-cv-00196

Case number

25 May 2022

Class period Start

21 Aug 2023

Class period End

22 Apr 2024

Lead Plaintiff motion deadline

$DKS stockholder filed a claim vs. Dick's Sporting Goods for overstating its sales and profitability. 
In August 2023 negative news caused $DKS to fall 24%, losing over $2B in shareholder value.
On February 16, 2024, a suit has been filed, claiming that:
Demand for Outdoor segment was slowing faster than represented, resulting in excess inventory;
The touted structural changes did not allow DSG to manage its excess inventory without hurting profitability;
Liquidate excess inventory would have a materially negative effect on profitability; 
As a result, DSG’s statements about business condition and prospects were materially false and misleading when made.
On August 22, 2023, when the true details entered the market, $DKS declined 24%and lost over $2 billion of its market capitalization, seriously damaging shareholders.

Considering all the representations, investors have reasons to suspect Dick's Sporting Goods of making false claims about its sales and inventory management, that led to investor losses when revealed.

The first affected investor already filed an initial claim vs. Dick's Sporting Goods in Western District of Pennsylvania court.

Case Status

Lead Plaintiff Appointed

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

22 August 2023

Filing date

16 February 2024

Lead Plaintiff Deadline

22 April 2024

Judge

Kezia O.L. Taylor

Dick's Sporting Goods (DKS) Missed Guidance Case

Collecting participants…