Kessler Topaz Meltzer & Check Files Securities Fraud Suit Against DICK’S Sporting Goods
News related to:DICK'S Sporting Goods, Inc · 2 min read
Kessler Topaz Meltzer & Check, LLP, a nationally recognized securities litigation law firm, has filed a securities fraud class action lawsuit against DICK’S Sporting Goods, Inc. (NYSE: DKS). The lawsuit is on behalf of investors who purchased or acquired DICK’S common stock between September 8, 2025, and August 24, 2026.
WHEN
The lawsuit was filed on September 19, 2026.
WHERE
The lawsuit is filed in the United States District Court for the Western District of Pennsylvania and is captioned Plumbers & Pipefitters Local Union #295 Pension Fund v. DICK’S Sporting Goods, Inc., No. 2:26-cv-01860 (W.D. Pa.).
WHO
MEDIA OPPORTUNITIES
On August 25, 2026, DICK’S Sporting Goods, Inc. announced disappointing second quarter 2026 financial results, including adjusted earnings per share and revenue from Foot Locker that fell well short of analyst estimates. DICK’S also reduced its full year 2026 consolidated net sales guidance. On this news, the price of DICK’S common stock declined $55.02 per share, or approximately 30.7%, from a close of $179.33 per share on August 24, 2026, to close at $124.31 per share on August 25, 2026.
The complaint alleges that, throughout the class period, DICK’S Sporting Goods, Inc. made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, the complaint alleges that DICK’S failed to disclose that DICK’S cleanup efforts concerning Foot Locker’s inventory were not complete, and that Foot Locker remained saddled with unproductive and stagnant legacy footwear. Additionally, the complaint states that Foot Locker heavily relied on legacy footwear products that were particularly vulnerable to intensifying promotional pressures across the athletic footwear industry, and that in turn, DICK’S was significantly exposed to an industry-wide environment of excess inventory and resulting promotional activity. As a result, DICK’S was unable to achieve the sales growth, margins, and profits it touted to investors.
Kessler Topaz Meltzer & Check, LLP, a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection, has been recognized by peers and the legal media with numerous accolades, including being recognized in Chambers & Partners USA 2026 as a Band 1 Top Firm in Securities and Class Actions, Legal 500’s Tier 1 Rankings for Securities and M&A Litigation, The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar.