Vista Outdoor Inc. ("Vista") is an American designer, manufacturer, and marketer of outdoor sports and recreation products. It operates in two markets: shooting sports and outdoor products.

According to a law firm's press release, the complaint alleges that throughout the Class Period, the Defendants failed to disclose: (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 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 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. The complaint further alleges that, as a result of the foregoing, the Defendants' statements about Vista's business, operations and prospects were false and misleading and/or lacked a reasonable basis.

On July 3, 2017, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on September 22. Defendants filed a Motion to Dismiss the amended Complaint on October 23. Lead Plaintiff filed a second amended Complaint on January 12, 2018. On July 3, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on July 9. On October 31, the Court granted final approval of the Settlement and entered Final Judgment.