IRVINE, CA / ACCESSWIRE / July 17, 2017 / Khang & Khang LLP (the "Firm") announces a securities class action lawsuit against Dick's Sporting Goods, Inc. ("Dick's" or the "Company") (NYSE: DKS). Investors who purchased or otherwise acquired shares from March 7, 2017 through May 15, 2017, inclusive (the "Class Period"), are encouraged to contact the Firm by the July 17, 2017 lead plaintiff motion deadline.
If you purchased the Company's shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at email@example.com.
There has been no class certification in this case yet, and until certification occurs, you are not represented by an attorney. You may also choose to take no action and remain a passive class member.
The Complaint alleges that during the Class Period, Dick's made false and/or misleading statements and/or failed to disclose: that the Company overstated its adjusted EBITDA amounts; that it lacked effective internal controls; and that as a result, the Company's public statements were materially false and misleading at all relevant times. On May 12, 2017, Dick's 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." Following this news, Dick's stock price dropped 5.22%, over the following two trading days. On May 16, 2017, the Company announced that sales at its existing stores in the first quarter of 2016 fell short of forecasts and advised investors that the Company planned to scale back new store openings in 2018 and 2019. When this information was released, Dick's stock price decreased materially, which harmed investors according to the Complaint.
If you wish to learn more about this lawsuit, or if you have questions about this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at firstname.lastname@example.org.
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Joon M. Khang, Esq.
SOURCE: Khang & Khang LLP