NEW YORK--(BUSINESS WIRE)--
The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Vista Outdoor, Inc. (NYSE:VSTO) between August 11, 2016, and January 13, 2017.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the District of Utah. To get more information go to:
http://www.zlk.com/pslra/vista-outdoor-inc
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts, including: (1) that Vista was experiencing an acceleration in the softening of the retail environment and an acceleration in its own promotional activity; (2) that, as such, Vista Outdoor was experiencing both revenue and gross margin declines; (3) that, as a result of the foregoing, the Company 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 the Company’s fiscal year 2017 (“FY17”) annual financial statements; and (4) that, as a result, the Company would have to recognize an impairment charge in the range of $400 million to $450 million.
If you suffered a loss in Vista Outdoor you have until March 27, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
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