NEW YORK, June 1, 2017 /PRNewswire/ -- Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a boutique securities firm headquartered at the Empire State Building in New York City, announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York against Dick's Sporting Goods, Inc. (NYSE: DKS) ("Dick's Sporting Goods" or the "Company") on behalf of purchasers of the Company's securities between March 7, 2017 and May 15, 2017, inclusive (the "Class Period").
The lawsuit is based on whether Dick's Sporting Goods and its executives violated federal securities law by misleading investors by making false and/or 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 Dick's Sporting Goods had overstated its adjusted EBITDA amounts. Accordingly, the Company lacked effective internal controls and as a result of the foregoing, Dick's Sporting Goods public statements were materially false and misleading at all relevant times.
On May 12, 2017, Dick's Sporting Goods 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". As a result of the news Dick's Sporting Goods share price fell $2.62 or 5.22%.
Mr. Monteverde would like to personally discuss with you how to potentially recover your monetary losses, if incurred during the Class Period.
If you wish to serve as lead plaintiff, you must move the Court no later than July 17, 2017. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Click here for more information: http://monteverdelaw.com/securities/. It is free and there is no cost or obligation to you.
Monteverde & Associates PC is a boutique class action securities and consumer litigation law firm committed that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct.
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
Tel: (212) 971-1341
Attorney Advertising. (C) 2017 Monteverde & Associates PC. Prior results do not guarantee a similar outcome with respect to any future matter.
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SOURCE Monteverde & Associates PC