Levi & Korsinsky Reminds DICK'S SPORTING GOODS, INC. Investors of the Pending Class Action Lawsuit With a Lead Plaintiff Deadline of November 3, 2026 - DKS

A securities class action names DICK'S Sporting Goods Chief Financial Officer Navdeep Gupta as an individual defendant, alleging he pointed to "clean inventory" and 67 basis points of margin expansion at Foot Locker months before the Company slashed its Foot Locker sales outlook and DKS shares fell $55.02.

NEW YORK, Sept. 30, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in DICK'S Sporting Goods, Inc. (NYSE: DKS) that Chief Financial Officer and Executive Vice President Navdeep Gupta is named as an individual defendant in a securities class action brought on behalf of purchasers of DKS common stock between September 8, 2025 and August 24, 2026. Find out if you could qualify to recover your per-share losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

DKS common stock fell $55.02 per share, roughly 30%, to close at $124.31 on August 25, 2026. Adjusted earnings came in at $3.53 per share against analyst estimates of $3.76, and Foot Locker contributed revenue of $1.73 billion versus the $1.81 billion Wall Street expected. LEAD PLAINTIFF DEADLINE: November 3, 2026.

Gupta's Role During the Class Period

Gupta served as Chief Financial Officer and Executive Vice President at all relevant times, including the September 8, 2025 completion of the $2.5 billion Foot Locker acquisition. The complaint identifies him among the officers who held the power and authority to control the contents of DICK'S quarterly reports, press releases, and presentations to securities analysts, money managers, and institutional investors.

What Gupta Allegedly Told the Market About Margins

On the March 12, 2026 earnings call, asked by a Morgan Stanley analyst about margin expansion, Gupta said that despite a "very promotional" fourth quarter, "we were very happy with the 67 basis points of margin expansion we posted here in Q4," adding that "our merchants and the inventory management team did a phenomenal job to finish the year strong from a clean inventory and driving top line momentum as well as gross margin expansion." The action claims those assurances omitted that Foot Locker remained dependent on stagnant legacy footwear silhouettes vulnerable to intensifying industry-wide promotional pressure. Roughly five months later, DICK'S reduced full-year consolidated net sales guidance to $21.9 billion to $22.2 billion from $22.1 billion to $22.4 billion, and cut Foot Locker proforma comparable sales guidance to negative 2.0% to 0.0% from 1.5% to 3% growth.

Navdeep Gupta's Alleged Role

• Held financial reporting responsibility for the Foot Locker business acquired for approximately $2.5 billion on the first day of the Class Period
• Certified the accuracy of the Company's periodic financial reports filed with the SEC during the Class Period
• Presented 67 basis points of fourth quarter margin expansion as evidence of clean inventory at Foot Locker, as quoted in the action
• Had access to internal reports and non-public information regarding Foot Locker inventory productivity, the complaint identifies
• Is named alongside Executive Chairman Edward W. Stack and Chief Executive Officer Lauren R. Hobart under Section 20(a) of the Exchange Act as a controlling person
• Faces claims under Section 10(b) and Rule 10b-5 for statements alleged to have inflated the price of DKS common stock

"Individual officers who sign SEC certifications bear personal responsibility for the accuracy of corporate disclosures. This complaint questions whether the reported margin expansion at Foot Locker reflected genuinely clean inventory or the temporary effect of markdowns. DKS purchasers deserve a full accounting of what the Company's finance leadership knew." -- Joseph E. Levi, Esq.

Submit your information here or call (212) 363-7500.

WHY LEVI & KORSINSKY — Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Investors who suffered losses have until November 3, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the DKS Lawsuit

Q: What is the DKS lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is November 3, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.

Q: What specific misstatements does the DKS lawsuit allege? A: The complaint alleges DICK'S Sporting Goods, Inc. made materially false or misleading statements regarding the resolution of Foot Locker's inventory and promotional challenges and the sustainability of Foot Locker's margins and comparable sales during the Class Period. When the Company reported second quarter 2026 results, cut full-year sales guidance, and slashed Foot Locker proforma comparable sales guidance to negative 2.0% to 0.0%, the stock price declined sharply.

Q: Who are the defendants named in the DKS lawsuit? A: The complaint names DICK'S Sporting Goods, Inc. and individual defendants including Edward W. Stack, Chairman of the Board, Lauren R. Hobart, CEO and director, and Navdeep Gupta, CFO and Executive VP.

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: What happens after I contact Levi & Korsinsky? A: An attorney will review your trading history at no cost and provide an initial assessment of your potential eligibility.

Q: What if I already sold my DKS shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

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