Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
NEW YORK, May 22, 2017 -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Dick’s Sporting Goods, Inc. (NYSE:DKS) who purchased shares between March 7, 2017 and May 15, 2017. The action, which was filed in the U.S. District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) the Company had overstated its adjusted EBITDA amounts; (ii) accordingly, the Company lacked effective internal controls; and (iii) as a result, the Company’s public statements were materially false and misleading. On May 12, 2017, Dick’s Sporting Goods filed a Form 8-K/A with the Securities and Exchange Commission disclosing 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.” Then on May 16, 2017, Dick’s Sporting Goods 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. On this news, Dick’s Sporting Good's share price fell from $47.57 per share on May 15, 2017 to a closing price of $41.04 on May 16, 2017.
Shareholders have until July 17, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sa/dicks-sporting-goods-inc?wire=3.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Joseph Klein, Esq. Empire State Building 350 Fifth Avenue 59th Floor New York, NY 10118 Telephone: (212) 616-4899 Fax: (347) 558-9665 www.kleinstocklaw.com
