NIKE, INC. SHAREHOLDERS HAVE AN OPPORTUNITY TO RECOVER THEIR INVESTMENT LOSSES
Nike, Inc.
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: NKE) between March 19, 2021, and March 21, 2024, inclusive (the “Class Period”).
If you purchased Nike Class B common stock between March 19, 2021, and March 21, 2024, inclusive, and would like to discuss your legal rights and options, please click “Join Class Action” above.
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.
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Contact Information:
Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
