or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing VSTO@hbsslaw.com.
VSTO disclosed on January 12, 2017 that it expects to record a material asset impairment charge (estimated to be in the range of $400 - $450 million) attributable to its Hunting and Shooting Accessories reporting unit during the fiscal 2017 third quarter. This news drove the price of VSTO shares down over 21% to close at $29.58 per share that day.
Then, on January 13, 2017, VSTO announced the President of its Outdoor Products segment (which includes the Hunting and Shooting Accessories unit) left the Company.
"We're looking at the timing of events that indicated the value of the Hunting and Shooting Accessories unit was less than its book value," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding VSTO should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email VSTO@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/investigation-into-vista-outdoor-inc-hagens-berman-alerts-vista-outdoor-investors-to-investigation-of-possible-securities-law-violations-300391961.html
SOURCE Hagens Berman Sobol Shapiro LLP