NEW YORK, Feb. 10, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Vista Outdoor Inc. securities (NYSE:VSTO) from August 11, 2016 through January 13, 2017, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Vista investors under the federal securities laws.
To join the Vista class action, go to http://rosenlegal.com/cases-1038.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, 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: (1) Vista was experiencing an acceleration in the softening of the retail environment and an acceleration in its own promotional activity; (2) as such, Vista was experiencing both revenue and gross margin declines; (3) in turn, Vista 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 Vista’s fiscal year 2017 annual financial statements; (4) as a result, Vista would have to recognize an impairment charge in the range of $400 million to $450 million; and (5) as a result of the foregoing, Defendants’ statements about Vista’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 27, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1038.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.