LOS ANGELES, Oct. 27, 2026 (GLOBE NEWSWIRE) — The Portnoy Law Firm notifies investors in DICK’s Sporting Goods, Inc. (NYSE: DKS) that a securities class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired DICK’s common stock between September 8, 2025 and August 24, 2026, inclusive (the ‘Class Period’). Find out if you qualify to recover your per-share losses by choosing to join the class action and submit your trade details. Investors who suffered financial losses have until November 3, 2026 to seek appointment as lead plaintiff. Shareholders should contact Lesley Portnoy via e-mail (Lesley@portnoylaw.com or call (310) 692-8883) or visit http://portnoylaw.com/dicks-sporting-goods-inc to learn more information and discuss their legal rights.
Please visit our website for more information on how to participate in this class action.
Dick’s Sporting Goods, together with its subsidiaries, operates as an omni-channel sporting goods retailer. On September 8, 2025, Dick’s Sporting Goods allegedly announced the completion of its acquisition of Foot Locker, Inc. for approximately $2.5 billion in cash and stock.
The Dick’s Sporting Goods class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Dick’s Sporting Goods’ cleanup efforts concerning Foot Locker’s inventory were not complete, and, in fact, Foot Locker remained saddled with unproductive and stagnant legacy footwear; (ii) Foot Locker heavily relied on legacy footwear products that were particularly vulnerable to intensifying promotional pressures across the athletic footwear industry; (iii) in turn, Dick’s Sporting Goods was significantly exposed to an industry-wide environment of excess inventory and resulting promotional activity; (iv) accordingly, Dick’s Sporting Goods was unable to achieve the sales growth, margins, and profits it touted to investors; and (v) as a result, defendants’ positive statements about Dick’s Sporting Goods’ business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On August 25, 2026, before the markets opened, Dick’s Sporting Goods allegedly reported disappointing second-quarter 2026 results, which included revenue of $1.73 billion from Foot Locker that fell well short of analysts’ estimates of $1.81 billion. The complaint alleges that Dick’s Sporting Goods also reduced its net sales guidance for full-year 2026 and disclosed that it expected Foot Locker’s proforma comparable sales to yield a range of negative 2.0% to 0.0% for the year – down from Dick’s Sporting Goods’ prior forecast of 1.5% to 3% growth. The Dick’s Sporting Goods class action lawsuit further alleges that in a related press release, Dick’s Sporting Goods’ Executive Chairman of the Board of Directors, Edward W. Stack, revealed that the athletic footwear marketplace had become “increasingly promotional,” which significantly impacted the Foot Locker business because of its “greater exposure to legacy footwear” and “dependence on footwear launch and retro product.” On this news, the price of Dick’s Sporting Goods common stock fell approximately 30%, according to the complaint.
WHY PORTNOY LAW FIRM
The Portnoy Law Firm represents investors in complex securities class action litigation and shareholder rights matters across the nation. Founded by Lesley Portnoy, the firm’s attorneys have recovered billions of dollars for aggrieved institutional and retail investors. The firm leverages extensive legal expertise and sophisticated financial forensic capabilities to hold public corporations accountable for corporate wrongdoing and misrepresentation.
Lead Plaintiff Deadline: Investors who suffered losses on DICK’s Sporting Goods, Inc. stock during the Class Period have until November 3, 2026 to seek appointment as lead plaintiff.
Frequently Asked Questions About the DICK’s Lawsuit
Q: What is the DICK’s lead plaintiff deadline?
A: The deadline to apply for lead plaintiff appointment is November 3, 2026. This deadline applies strictly to investors seeking to serve as lead plaintiff representing the class. Class members who do not apply may still participate in any eventual financial recovery as absent class members without taking any action at this time.
Q: How much did DICK’s stock drop and on what dates?
A: Following the reporting of disappointing second-quarter 2026 financial results, a significant miss in Foot Locker revenue, a reduction in full-year net sales guidance, and disclosures regarding an increasingly promotional athletic footwear environment, DICK’S Sporting Goods, Inc. common stock fell $55.02 per share, or approximately 30%, to close at a price of $124.31 per share on August 25, 2026.
Q: What specific misstatements does the DICK’s lawsuit allege?
A: The lawsuit claims that Dick’s Sporting Goods and its executives misled investors regarding the company’s acquisition and turnaround of Foot Locker. Specifically, the complaint alleges that executives falsely assured the public that Foot Locker’s longstanding inventory and promotional challenges had been resolved, boasting that they had successfully “cleaned out the garage” of unproductive inventory. In reality, Foot Locker remained heavily burdened by stagnant legacy footwear and excess inventory, making it acutely vulnerable to intensifying promotional pressures across the athletic footwear industry and rendering the company unable to achieve the sales growth, margins, and profitability promised to investors.
Q: What do DICK’s investors need to do right now?
A: Investors who purchased DKS common stock during the Class Period (September 8, 2025 through August 24, 2026) should gather their trade confirmation slips or brokerage transaction logs showing purchase dates, number of shares, and prices paid. You may submit your trade details to Portnoy Law Firm here for a free, no-obligation evaluation of your potential loss recovery. No immediate legal action is required to remain an eligible absent class member.
Q: What is a lead plaintiff and why does it matter?
A: A lead plaintiff is a court-appointed class member who acts on behalf of all other class members in directing the litigation. The lead plaintiff is typically the investor or group of investors that makes a motion with the largest financial interest in the relief sought. While serving as lead plaintiff does not increase an investor’s individual financial recovery compared to other class members, it gives the investor direct authority to select lead counsel and oversee the prosecution of the lawsuit.
Q: Does the lead plaintiff receive any type of compensation?
A: Yes, in many cases, Courts award the lead plaintiff an additional amount of money to compensate the lead plaintiff for their participation in the case.
Q: Does it cost anything to participate in this case as a lead plaintiff?
A: A lead plaintiff does not pay any fees or expenses out of pocket. Our firm works on a contingency basis, and will collect any fees or expenses directly from a future recovery.
Q: What if I already sold my DICK’s shares — can I still recover losses?
A: Yes. Eligibility to participate in a securities class action recovery depends on whether you purchased or acquired DKS common stock during the Class Period (September 8, 2025 to August 24, 2026) and suffered an economic loss. Investors who sold their shares prior to or after the public disclosures may still be eligible to recover damages based on the artificial inflation present in the stock at the time of purchase.
Q: How long will the DICK’s lawsuit take to resolve?
A: Securities class action lawsuits typically take between two and four years from initial filing to full resolution. The exact timeline depends on court scheduling, motion practice (such as motions to dismiss), pre-trial discovery, and potential settlement negotiations or trial proceedings.
Q: Can I choose a different law firm to represent me?
A: Yes. Investors have the absolute right to retain any legal counsel of their choice. When multiple class action complaints are filed, the court will consolidate the actions and appoint a lead plaintiff and lead counsel. You may choose to be represented by Portnoy Law Firm, retain separate counsel, or remain an absent class member represented by court-appointed lead counsel.
CONTACT INFORMATION
Portnoy Law Firm
Lesley Portnoy, Esq.
Email: lesley@portnoylaw.com / info@portnoylaw.com
Telephone: (310) 692-8883
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