Performance Sports Group Ltd. Securities Litigation
On or around 10/28/2019 (Date of last review)
Filing Date: March 18, 2016
According to the law firm press release, the lawsuit alleges defendants throughout the Class Period issued false and misleading statements to investors and/or failed to disclose that: (1) Sports Authority’s financial woes would impact Performance Sports Group’s financial performance; (2) the baseball and softball markets were in decline; (3) the consolidation of Performance Sports Group’s U.S. Hockey customers would create a smaller demand for hockey equipment; and (4) as a result, defendants’ statements about Performance Sports Group’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On May 17, 2016, the first identified case was voluntarily dismissed by the Plaintiff. A related case continues in the Southern District of New York under 16-CV-03591.
On June 7, 2016, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on August 15. On November 3, Lead Plaintiffs filed a second amended Complaint. On September 13, 2019, Lead Plaintiffs filed a third amended Complaint.
Company & Securities Information
Defendant: Performance Sports Group Ltd.
Sector: Consumer Cyclical
Industry: Recreational Products
Headquarters: United States
Ticker Symbol: PSG
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Brian Apel, et al. v. Performance Sports Group Ltd., et al.