NEW YORK, April 03, 2018 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that a class action complaint has been
filed on behalf of shareholders of Foot Locker, Inc. (NYSE:FL) who purchased shares between August 19, 2016
and August 17, 2017. The action, which was filed in the United States District Court for the Eastern
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 (1) Foot Locker's vendors were transitioning to selling through various online
retailers, diminishing the utility of Foot Locker's large number of brick and mortar stores and the value of its exclusivity
relationships with those vendors; (2) competition with online retailers had increased the pricing competition Foot Locker faced
while also materially lowering the demand at Foot Locker stores; and (3) as a result of defendants' failure to disclose this
information, Foot Locker stock was artificially inflated to a high of $79.20 per share during the Class Period, while executives
were able to sell over 192,000 shares of their personally held Foot Locker stock at artificially inflated prices.
Shareholders have until May 8, 2018 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-c/foot-locker-inc?wire=3.
Joseph Klein, Esq. 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
