SAN DIEGO, July 08, 2024 (GLOBE NEWSWIRE) — Robbins LLP reminds investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired NIKE, Inc. (NYSE: NKE) Class B Common stock between March 19, 2021 and March 21, 2024. NIKE is a global athletic footwear and apparel company that designs, markets, and sells products for its NIKE, Jordan, and Converse brands.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that NIKE, Inc. (NKE) Misled Investors Regarding the Profitability of its Direct-to-Consumer Strategy
According to the complaint, during the class period, defendants failed to disclose that (1) NIKE’s direct-to-consumer strategy was unable to generate sustainable revenue growth, and (2) NIKE’s purported competitive advantages were unable to protect the Company from intense competitive pressures after NIKE largely disengaged from many of its wholesale and retail partners to focus on the Company’s direct-to-consumer strategy. As the truth was revealed, the value of the Company’s Class B common stock declined.
What Now: You may be eligible to participate in the class action against NIKE, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by August 19, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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