Vista Outdoor Inc.
Class Period: Aug 11, 2016 to Jan 13, 2017
Lead Plaintiff Deadline: Mar 27, 2017
Summary of Case:
A securities class action has been filed against Vista Outdoor Inc. (VSTO) on behalf of purchasers of Vista Outdoor securities from August 11, 2016 through January 13, 2017. This case has been filed in the USDC Utah.
The Complaint alleges that throughout the Class Period Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects, including that: (1) Vista was experiencing an acceleration in the softening of the retail environment and an acceleration in its own promotional activity; (2) as such, Vista was experiencing both revenue and gross margin declines; (3) in turn, Vista would have to begin the impairment assessment for its Outdoor Products segment's reporting units in the third quarter of 2017, rather than with the preparation of Vista' fiscal year 2017 annual financial statements; (4) as a result, Vista would have to recognize an impairment charge in the range of $400 million to $450 million; and (5) as a result of the foregoing, Defendants' statements about Vista's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.