{"id":10977,"date":"2026-09-05T07:49:00","date_gmt":"2026-09-05T00:49:00","guid":{"rendered":"https:\/\/www.globenewswire.com\/news-release\/2026\/09\/05\/3356855\/0\/en\/saxena-white-p-a-files-securities-fraud-class-action-against-dick-s-sporting-goods-inc-and-certain-of-its-executive-officers-and-directors.html3356855"},"modified":"2026-09-05T08:03:57","modified_gmt":"2026-09-05T01:03:57","slug":"saxena-white-p-a-files-securities-fraud-class-action-against-dicks-sporting-goods-inc-and-certain-of-its-executive-officers-and-directors","status":"publish","type":"post","link":"https:\/\/cryptoinsider.asia\/vi\/saxena-white-p-a-files-securities-fraud-class-action-against-dicks-sporting-goods-inc-and-certain-of-its-executive-officers-and-directors\/","title":{"rendered":"Saxena White P.A. Files Securities Fraud Class Action Against DICK\u2019S Sporting Goods, Inc. and Certain of Its Executive Officers and Directors"},"content":{"rendered":"\n

BOCA RATON, Fla., Sept. 04, 2026 (GLOBE NEWSWIRE) — Saxena White P.A. has filed a securities fraud class action lawsuit (the \u201cClass Action\u201d) in the United States District Court for the Western District of Pennsylvania against DICK\u2019S Sporting Goods, Inc. (\u201cDick\u2019s\u201d or the \u201cCompany\u201d) (NYSE: DKS), certain of its executive officers and directors (collectively, \u201cDefendants\u201d). The Class Action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and U.S. Securities and Exchange Commission (\u201cSEC\u201d) Rule 10b-5 promulgated thereunder on behalf of all persons and entities that purchased Dick\u2019s common stock between September 8, 2025 and August 24, 2026, inclusive (the \u201cClass Period\u201d), and were damaged thereby (the \u201cClass\u201d). The Class Action filed by Saxena White is captioned Plumbers & Pipefitters Local Union #295 Pension Fund v. DICK\u2019S Sporting Goods, Inc., et al<\/em>., No. 2:26-cv-01860 (W.D. Pa.).<\/p>\n

Based in Coraopolis, Pennsylvania, Dick\u2019s is the largest sporting goods retailer in the United States. On September 8, 2025, the first day of the Class Period, Dick\u2019s announced the completion of its acquisition of Foot Locker, Inc. (\u201cFoot Locker\u201d), a prominent footwear and apparel retailer, for approximately $2.5 billion in cash and stock. Throughout the Class Period, the Company touted the Foot Locker acquisition as a strategic opportunity to drive growth and profitability while assuring investors that Foot Locker\u2019s longstanding inventory and promotional challenges had been resolved.<\/p>\n

The Class Action alleges that, during the Class Period, Defendants made materially false and\/or misleading statements and failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose that: (1) Dick\u2019s cleanup efforts concerning Foot Locker\u2019s inventory were not complete, and, in fact, Foot Locker remained saddled with unproductive and stagnant legacy footwear; (2) Foot Locker heavily relied on legacy footwear products that were particularly vulnerable to intensifying promotional pressures across the athletic footwear industry; (3) in turn, Dick\u2019s was significantly exposed to an industry-wide environment of excess inventory and resulting promotional activity; (4) accordingly, Dick\u2019s was unable to achieve the sales growth, margins, and profits it touted to investors; and (5) as a result of the above, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially false and misleading and\/or lacked a reasonable basis at all relevant times.  <\/p>\n

The truth was revealed before markets opened on August 25, 2026, when Dick\u2019s disclosed, among other disappointing financial metrics, that Foot Locker generated revenue of only $1.73 billion, significantly below analysts\u2019 expectations of $1.81 billion. The Company also reduced its full-year 2026 consolidated net sales guidance to a range between $21.9 billion to $22.2 billion (down from $22.1 billion to $22.4 billion).   Dick\u2019s further revealed that it expected Foot Locker\u2019s proforma comparable sales to yield a range of negative 2.0% to 0.0% for the year\u2014a sharp deterioration from Dick\u2019s prior forecast of 1.5% to 3% growth for Foot Locker.   In the related press release, Dick\u2019s Executive Chairman of the Board of Directors Edward W. Stack revealed that the athletic footwear marketplace had become \u201cincreasingly promotional,\u201d which significantly impacted the Foot Locker business because of its \u201cgreater exposure to legacy footwear\u201d and \u201cdependence on footwear launch and retro product.\u201d   On this news, the price of Dick\u2019s common stock fell $55.02 per share, or approximately 30%, to a closing price of $124.31 per share on August 25, 2026.<\/p>\n

If you purchased Dick\u2019s common stock during the Class Period and were damaged thereby, you are a member of the \u201cClass\u201d and may be able to seek appointment as lead plaintiff. If you wish to apply to be lead plaintiff, a motion on your behalf must be filed with the U.S. District Court for the Western District of Pennsylvania no later than November 3, 2026. The lead plaintiff is a court-appointed representative for absent members of the Class. You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member.<\/p>\n

You may contact Marco A. Due\u00f1as (mduenas@saxenawhite.com<\/a>), a Senior Attorney at Saxena White P.A., to discuss your rights regarding the appointment of lead plaintiff or your interest in the Class Action. You also may retain counsel of your choice to represent you in the Class Action. You may obtain a copy of the Complaint and inquire about actively joining the Class Action at www.saxenawhite.com<\/a>.<\/p>\n

Saxena White P.A., with offices in Florida, New York, California, and Delaware, is a leading national law firm focused on prosecuting securities class actions and other complex litigation on behalf of injured investors. Currently serving as lead counsel in numerous securities class actions nationwide, Saxena White has recovered billions of dollars on behalf of injured investors.<\/p>\n

CONTACT INFORMATION
Marco A. Due\u00f1as, Esq.
mduenas@saxenawhite.com<\/a>
Saxena White P.A.
10 Bank Street, Suite 882
White Plains, New York 10606
Tel.: (914) 437-8551
Fax: (888) 631-3611
www.saxenawhite.com<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

BOCA RATON, Fla., Sept. 04, 2026 (GLOBE NEWSWIRE) — Saxena White P.A. has filed a securities fraud class action lawsuit (the \u201cClass Action\u201d) in the United States District Court for the Western District of Pennsylvania against DICK\u2019S Sporting Goods, Inc. (\u201cDick\u2019s\u201d or the \u201cCompany\u201d) (NYSE: DKS), certain of its executive officers and directors (collectively, \u201cDefendants\u201d). The Class Action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and U.S. Securities and Exchange…<\/p>\n","protected":false},"author":1,"featured_media":10978,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[75,1406],"tags":[],"class_list":["post-10977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-globenewswire"],"yoast_head":"\nSaxena White P.A. 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