NEW YORK--(BUSINESS WIRE)--
Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the District of Utah on behalf of all persons or entities who purchased or otherwise acquired Vista Outdoor Inc. (NYSE:VSTO) securities between August 11, 2016 and January 13, 2017 (the “Class Period”).
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 the Company was experiencing revenue and gross margin declines and that the Company would begin the impairment assessment for its Outdoor Products segment’s reporting units in the third quarter of 2017.
On January 12, 2017, Vista disclosed that it expects a material asset impairment charge of approximately $400 – $450 million due to its Hunting and Shooting Accessories reporting unit in the third quarter of its fiscal year 2017. On this news, Vista shares declined $8.21 per share to close at $29.58 on January 12, 2017.
On January 13, 2017, Vista disclosed that the President of its Outdoor Products segment, which includes the Hunting and Shooting Accessories unit, resigned from his position. On this news, Vista shares declined $0.88 per share to close at $28.70 on January 13, 2017.
If you purchased or otherwise acquired Vista Outdoor securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact J. Brandon Walker, Esq. by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm, concentrating in commercial and securities litigation. For additional information concerning the Vista Outdoor lawsuit, please go to www.bespc.com/vista-outdoor-inc. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.
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