The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the District of Utah on behalf of investors who purchased Vista Outdoor, Inc. (NYSE: VSTO) securities between August 11, 2016, and January 13, 2017.
According to the complaint, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts, including: (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 Outdoor 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 fiscal year 2017 (“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.
If you suffered a loss in Vista Outdoor you have until March 27, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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