NEW YORK, June 21, 2024 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP:
- Did you purchase Nike, Inc. (NYSE: NIKE) shares between March 19, 2021, and March 21, 2024, inclusive, and lose money on your investments?
- Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired Class B common stock of Nike, Inc. (“Nike” or the “Company”) (NYSE: NIKE) between March 19, 2021, and March 21, 2024, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the District of Oregon and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its senior officers (the “Complaint”).
If you purchased or acquired Nike Class B common stock, and/or would like to discuss your legal rights and options please visit Nike, Inc. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
According to the Complaint, defendants made false and/or misleading statements and/or failed to disclose that NIKE’s direct-to-consumer strategy was unable to generate sustainable revenue growth and that NIKE’s purported competitive advantages were unable to protect the Company from competitive pressures. Specifically, defendants materially misled investors about: (1) NIKE’s ability to generate sustainable revenue growth under its direct-to-consumer strategy; (2) NIKE’s purported competitive advantages to protect the Company from intense competitive pressures despite focusing on its direct-to-consumer strategy; and (3) as a result, defendants’ representations about NIKE’s business, operations, and prospects. When the true details entered the market, the lawsuit claims that investors suffered damages
Investors slowly learned the truth through a series of disclosures on June 27, 2022, September 29, 2022, December 21, 2023, and March 21, 2024. On March 21, 2024, NIKE reported declining revenues and Defendant Donahoe finally admitted that “NIKE is not performing [to its] potential.” When the truth entered the market, the share price of NIKE Class B common stock significantly declined.
If you wish to serve as lead plaintiff, you must move the Court no later than August 19, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. All representation is on a contingency fee basis. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
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