DICK’S Sporting Goods, Inc. (NYSE: DKS).  

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into DICK’S Sporting Goods, Inc. (“Dick’s or “the “Company”) (NYSE: DKS).  

After benefitting from the economic tailwinds resulting from the COVID-19 pandemic and subsequent government stimulus programs, when the unique, post-pandemic macroeconomic climate normalized in 2022, the Company promoted its ability to maintain significantly improved post-pandemic margins and earnings, but misrepresented and omitted to state the extent to which demand for certain inventory, especially in the Outdoor segment, had fallen, negatively impacting earnings and margins. On August 22, 2023, the Company announced disappointing results for 2Q2023, attributing significantly reduced margins and profitability primarily to promotional sales of excess Outdoor inventory.

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws, which remains ongoing.

KSF’s investigation is focusing on whether Dick’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws. 

If you have information that would assist KSF in its investigation, or have been a long-term holder of Dick’s shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.