DKS Shareholder Alert: DICK'S SPORTING GOODS, INC. Securities Class Action Lawsuit - Investors Should Contact Levi & Korsinsky

Institutional and fiduciary holders of DKS are urged to review a securities class action alleging DICK'S Sporting Goods assured investors that Foot Locker's inventory and promotional problems had been resolved while the acquired business allegedly remained dependent on stagnant legacy footwear.

NEW YORK, Oct. 7, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP notifies institutional investors in DICK'S Sporting Goods, Inc. (NYSE: DKS) that a class action lawsuit has been filed on behalf of shareholders who purchased securities between September 8, 2025 and August 24, 2026. Request an institutional investor loss assessment. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

DKS common stock declined approximately 30%, or $55.02 per share, in a single session on August 25, 2026. The window to apply for lead plaintiff closes on November 3, 2026.

Notice to Institutional Holders

Pension funds, endowments, asset managers, and separately managed account sponsors that accumulated DKS positions after the September 2025 closing of the $2.5 billion Foot Locker transaction may hold among the largest documented losses in the proposed class. The pleading asserts that public assurances about the state of the acquired business, including representations that the cleanup of unproductive inventory had been completed, were materially false or misleading when made.

Under the Private Securities Litigation Reform Act, courts generally appoint the movant with the largest financial interest that is otherwise adequate. Institutional holders frequently satisfy that standard without realizing it.

ERISA and Fiduciary Considerations

Trustees and investment committees are commonly expected to identify, value, and preserve plan claims as plan assets. A recovery opportunity that is not evaluated is not preserved, and the complaint charges that the alleged concealment inflated the price paid by every class member during the period.

Fiduciary Obligations and Recovery Options

• Identifying whether the fund purchased DKS during the September 8, 2025 to August 24, 2026 class period
• Quantifying plan-level losses using trade-level records rather than period-end holdings
• Documenting the evaluation process for the investment committee minutes
• Determining whether the fund's loss profile supports a lead plaintiff application
• Assessing whether passive class participation or an active leadership role better serves beneficiaries
• Confirming that custodian and manager records are retained for claims administration

"Institutional investors play a critical role in securities class actions, and public pension funds in particular often bring the loss profile and governance discipline that courts look for in a lead plaintiff. Here, the action alleges that assurances about the acquired footwear business were not consistent with conditions management is claimed to have known about internally." -- Joseph E. Levi, Esq.

Contact us to learn more about institutional recovery options or call (212) 363-7500.

INSTITUTIONAL INVESTOR REPRESENTATION — Levi & Korsinsky, LLP provides sophisticated counsel to institutional investors evaluating lead plaintiff opportunities. The firm has recovered hundreds of millions of dollars. Ranked among ISS Top 50 for seven consecutive years.

Frequently Asked Questions About the DKS Lawsuit

Q: What specific misstatements does the DKS lawsuit allege? A: The complaint alleges DICK'S Sporting Goods made materially false or misleading statements regarding the Foot Locker integration, including assurances that the cleanup of unproductive and stagnant legacy footwear inventory was essentially complete and that no meaningful promotional pressure was on the horizon, during the Class Period. When the Company disclosed disappointing second-quarter 2026 results, reduced full-year net sales guidance, and a cut to Foot Locker proforma comparable sales guidance to negative 2.0% to 0.0% from a prior forecast of 1.5% to 3% growth, the stock price declined sharply.

Q: When did DICK'S Sporting Goods allegedly mislead investors? A: The Class Period runs from September 8, 2025 to August 24, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.

Q: What court was the DKS class action filed in? A: The case was filed in the United States District Court for the Western District of Pennsylvania, governed by the Private Securities Litigation Reform Act of 1995.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: How do I know if I lost enough money to be the lead plaintiff? A: There is no minimum loss threshold. Courts generally appoint the investor with the largest provable loss who is willing and able to represent the class adequately. Contact Levi & Korsinsky before November 3, 2026 to evaluate lead plaintiff options.

Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of the investor's country of residence.

Q: Can I join a different law firm's lawsuit instead? A: Yes. Investors may choose which law firm to contact. Multiple firms often file competing complaints. The court may consolidate related cases and appoint a single lead counsel.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected]

Tel: (212) 363-7500

Fax: (212) 363-7171

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SOURCE Levi & Korsinsky, LLP