6 frequently asked questions in the DICK'S SPORTING GOODS CLASS ACTION LAWSUIT

Contact Dick's Sporting Goods stock loss lawyer Timothy L. Miles for a free case evaluation about a Dick's Sporting Goods lawsuit

INTRODUCTION TO THE DICK’S SPORTING GOODS CLASS ACTION LAWSUIT

Contact Dick’s Sporting Goods stock loss lawyer Timothy L. Miles about a Dick’s Sporting Goods class action lawsuit

A class action lawsuit has been filed seeking to represent purchasers of Dick’s Sporting Goods, Inc. (NYSE: DKS) common stock between May 25, 2022 and August 21, 2023, inclusive (the “Class Period”). Captioned Plumbers and Pipefitters Local Union №719 Pension Trust Fund v. Dick’s Sporting Goods, Inc., №24-cv-00196 (W.D. Pa.), the Dick’s Sporting Goods class action lawsuit charges Dick’s Sporting Goods and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
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If you suffered losses in Dick’s Sporting Goods stock and wish to serve as lead plaintiff in the Dick’s Sporting Goods class action lawsuit, or just have general questions about your rights as a shareholder, please contact Dick’s Sporting Goods Stock Loss Lawyer Timothy L. Miles, at no charge, by calling 855/846–6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Dick’s Sporting Goods class action lawsuit must be filed with the court no later than April 22, 2024.

Read on for answers to the six most frequently asked by investors about the Dick’s Sporting Goods class action lawsuit.

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WHAT ARE THE ALLEGATIONS IN THE DICK’S SPORTING GOODS CLASS ACTION LAWSUIT?

The Dick’s Sporting Goods class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) demand for products in Dick’s Sporting Goods’ Outdoor segment was slowing faster than defendants represented, resulting in excess inventory; (ii) the “structural changes” that defendants repeatedly touted, including differentiated products, improved pricing technology, and more efficient clearance channels, did not allow Dick’s Sporting Goods to manage its excess inventory without hurting its profitability; and (iii) the need to liquidate excess inventory, including in the Outdoor segment, would have a materially negative effect on Dick’s Sporting Goods’ profitability.

On May 19, 2023, TD Cowen and Telsey Advisory Group issued analyst reports lowering their sales and earnings per share estimates for Dick’s Sporting Goods for both the first quarter of fiscal year 2023 and the full year.  On this news, the price of Dick’s Sporting Goods common stock fell nearly 7%.

​Then, on August 22, 2023, Dick’s Sporting Goods revealed that profitability for the second quarter of 2023 was significantly lower than previously represented.  Specifically, Dick’s Sporting Goods’ net income was $244 million (compared to the analyst consensus estimate of $338 million), earnings per share were $2.82 (compared to the analyst consensus estimate of $3.81), gross margin was 34.4% (compared to the analyst consensus estimate of 36.3%), and pre-tax margin was 10.2% (below Dick’s Sporting Goods’ previously-issued guidance of 11.7%).  Dick’s Sporting Goods also lowered its profitability guidance for the rest of fiscal year 2023.  On this news, the price of Dick’s Sporting Goods common stock fell more than 24%.

WHAT IS THE LEAD PLAINTIFF DEADLINE?

​​When a securities class action is filed such as the Dick’s Sporting Goods class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published. 

WHAT ARE THE STAGES TO THE DICK’S SPORTING GOODS CLASS ACTION LAWSUIT? Add Text

​​Securities fraud class actions go through a series of stages. In the Dick’s Sporting Goods class action lawsuit, the various steps to the lawsuit would be as follows:

• Consolidation of all related cases and the appointment of a lead plaintiff.
• Lead Plaintiff's filing of a consolidated complaint.
• Defendants' motion to dismiss.
• Class certification.
• Discovery.
• Settlement talks and most likely mediation.
• Motions for summary judgment.
• Trial.
• Appeal.

WHAT IS THE LEAD PLAINTIFF PROCESS?

The PSLRA permits any investor who purchased and suffered losses in Dick’s Sporting Goods​ stock to seek appointment as lead plaintiff in the Dick’s Sporting Goods class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. ​

​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Dick’s Sporting Goods​ stock and have further questions, contact Dick’s Sporting Goods stock loss Lawyer Timothy L. Miles today. ​

CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF?

​Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors.  Thus, if a non-U.S. investor suffered losses in Dick’s Sporting Goods​​ stock, they may move the Court to be appointed lead plaintiff. 

WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF?

Serving as a Lead Plaintiff in the Dick’s Sporting Goods lawsuit has several important benefits and advantages including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred in the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit of being involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Dick’s Sporting Goods​​ if you suffered significant losses in Dick’s Sporting Goods​​ stock. ​

CONTACT A DICK’S SPORTING GOODS​ STOCK LOSS LAWYER TODAY ABOUT A DICK’S SPORTING GOODS CLASS ACTION LAWSUIT

​If you suffered losses in Dick’s Sporting Goods​ stock, contact Dick’s Sporting Goods​ stock loss lawyer Timothy L. Miles today for a free case evaluation about a Dick’s Sporting Goods class action lawsuit. Call today and see what a Dick’s Sporting Goods stock loss lawyer could do for you if you suffered losses in Dick’s Sporting Goods​​​ ​stock.

​The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846–6529
​Email: [email protected]

Dick’s Sporting Goods​ stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,  shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,​Class Action:  Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
​​Phone: (855) 846-6529
​Email: [email protected]