IMPORTANT DICK'S SPORTING GOODS, INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Dick’s Sporting Goods, Inc.

Lead Plaintiff Deadline is July 17, 2017

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| Source: Wolf Haldenstein Adler Freeman & Herz LLP

NEW YORK, May 19, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed against Dick’s Sporting Goods, Inc. (“Dick’s Sporting Goods”  or the  “Company”) (NYSE:DKS) in  the United  States District Court for  the Southern District  of New  York on behalf  of a  class consisting of persons or entities who acquired Dick’s Sporting Goods stock  on the open market  from March 7, 2017 to May  15, 2017,  inclusive (the  “Class Period”).

Investors who have incurred losses in shares of Dick’s Sporting Goods, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com. 

If you suffered a loss in Dick’s Sporting Goods, Inc. shares and would like to assist with the litigation process as a lead plaintiff, you may, no later than July 17, 2017, request that the Court appoint you lead plaintiff of the proposed class.

The  filed Complaint  alleges  that   Defendants  issued  materially  false   and/or  misleading statements  and/or failed  to disclose  that:

  • the Company had overstated its adjusted EBITDA amounts; 
     
  • the Company  lacked effective internal  controls; and 
     
  • as a result, the  Company’s  public statements were materially false and misleading.

On May 12, 2017, Dick’s Sporting Goods filed a Form 8-K/A with the Securities and Exchange Commission (SEC) disclosing 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.”

Then on May 16, 2017, Dick’s Sporting Goods announced that sales at its existing stores in the first quarter of 2016 had fallen short of forecasts and advised investors that the Company  planned to scale back new store openings in 2018 and 2019.

On this news, Dick’s Sporting Goods share price fell from $47.57 per share on May 15, 2017 to a closing price of $41.04 on May 16, 2017.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774