According to the Complaint, NIKE, Inc. is a global athletic footwear and apparel company which designs, markets, and sells products for its NIKE, Jordan, and Converse brands.

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 and operations. Specifically, the Complaint alleges Defendants misrepresented and/or failed to disclose that: (1) NIKE’s direct-to-consumer strategy was unable to generate sustainable revenue growth; (2) NIKE’s purported competitive advantages were unable to protect the Company from intense competitive pressures after NIKE largely disengaged from many of its wholesale and retail partners to focus on the Company’s direct-to-consumer strategy; and (3) as a result, Defendants’ representations about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.

On August 8, 2024, the Court issued an Order consolidating cases. All future docketing was ordered to be done in the lead case 24-CV-00974.

On October 25, 2024, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended consolidated Complaint on February 10, 2025. On March 24, Lead Plaintiff filed a second amended consolidated Complaint.