NKE - NKE INVESTOR ALERT: Bronstein Gewirtz & Grossman LLC Announces that NIKE Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit! | Benzinga
NEW YORK, July 05, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against NIKE, Inc. ("NIKE" or "the Company") (NYSE:NKE) and certain of its officers.
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired NIKE securities between March 19, 2021, and March 21, 2024, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/NKE.
Case Details
According to the Complaint, NIKE is a global athletic footwear and apparel company which designs, markets, and sells products for its NIKE, Jordan, and Converse brands. NIKE branded products are sold through the Company's retail stores, NIKE Brand Digital platforms (known as "NIKE Digital"), wholesale partners, distributors, and licensees. NIKE Digital includes Nike.com and the Company's digital application, Nike+.
In 2017, notes the Complaint, NIKE began implementing its "Consumer Direct Offense" strategy. This initiative aimed to boost innovation and direct connections with consumers. It also highlighted NIKE's digital presence as a means of directly connecting with consumers by "add[ing] greater digital expertise and control in the markets where consumer connections happen." Consequently, the Company began reporting the financial metrics from NIKE Digital and the Company's retail stores as "NIKE Direct." In connection with NIKE's direct-to-consumer strategy, the Company dropped nearly one-third of its sales partners by late 2020, and significantly ...