NEW YORK, June 02, 2017 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed
against Dick’s Sporting Goods, Inc. (“Dick’s” or the “Company”) (NYSE:DKS) and certain of its officers. The class
action, filed in United States District Court, Southern District of New York, and docketed under 17-cv-03680, is on behalf of a
class consisting of investors who purchased or otherwise acquired Dick’s securities, seeking to recover compensable damages caused
by defendants’ violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased Dick’s securities between March 7, 2017 and May 15, 2017, both dates
inclusive, you have until July 17, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the
Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who
inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
[Click here to join this class action]
Dick’s Sporting Goods, Inc. is a sporting goods retailer that offers a broad selection of brand name sporting
goods equipment, apparel, and footwear. The Company owns and operates Golf Galaxy, Inc., Field & Stream and other specialty
chain stores.
Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements
regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading
statements and/or failed to disclose that: (i) Dick’s had overstated its adjusted EBITDA amounts; (ii) accordingly, the
Company lacked effective internal controls; and (iii) as a result of the foregoing, Dick’s public statements were materially false
and misleading at all relevant times.
On May 12, 2017, Dick’s issued a Current Report filed on Form 8-K/A with the Securities and Exchange Commission,
reporting 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”.
On this news, Dick’s share price fell $2.62 or 5.22%, over the following two trading days, to close at $47.57 on
May 15, 2017.
On May 16, 2017, Dick’s 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 share price fell as much as $6.82, or 14.34%, during intraday trading on May 16, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the
premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz,
known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80
years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities
fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on
behalf of class members. See www.pomerantzlaw.com
CONTACT: Robert S. Willoughby Pomerantz LLP rswilloughby@pomlaw.com
