Kaskela Law LLC is investigating DICK’S Sporting Goods, Inc. (NYSE: DKS) (“DICK’S”) on behalf of the company’s long-term shareholders.

Recently a securities fraud complaint was filed against DICK’S on behalf of certain investors who purchased shares of the company’s stock between August 23, 2022 and August 21, 2023.  According to the complaint, during that time period DICK’S and several of the company’s senior executive officers made a series of materially false and misleading statements to investors concerning the company’s profitability growth, merchandise margins, demand, inventory levels, and the impact of inventory shrinkage related to retail theft.

As further detailed in the complaint, on August 22, 2023, Defendants revealed continued margin declines and disappointing profitability results due to “markdowns to move through excess inventory” and elevated shrink. Defendants also lowered profitability guidance for the remainder of fiscal 2023 due to the same problems.  On the news, the price of DSG stock declined $35.51 per share, or over 24% in value, to close at $111.53 per share on August 22, 2023.

The investigation seeks to determine whether the members of DICK’S board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.

DICK’S shareholders who purchased or acquired DKS shares prior to August 21, 2023 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by completing the form on this page, to receive additional information about this investigation and their legal rights and options.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
([email protected])
Adrienne Bell, Esq.
([email protected])
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750