NKE - NKE Investor Alert: Kessler Topaz Meltzer & Check LLP Urges NIKE Inc. (NKE) Investors with Losses to Contact the Firm | Benzinga

RADNOR, Pa., July 09, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP informs investors that the firm has filed a securities fraud class action lawsuit against NIKE, Inc. (NYSE:NKE) ("NIKE" or the "Company") on behalf of investors who purchased or acquired NIKE Class B common stock between March 19, 2021, and March 21, 2024, inclusive (the "Class Period"). This action, captioned City Pension Fund for Firefighters and Police Officers in the City of Pembroke Pines v. NIKE, Inc., et al., Case No. 3:24-cv-00974-AN was filed in the United States District Court for the District of Oregon and the case is assigned to the Honorable Adrienne Camille Nelson.

Important Deadline Reminder: Investors who purchased or otherwise acquired NIKE Class B common stock during the Class Period may, no later than August 19, 2024, move the Court to serve as lead plaintiff for the class.

If you suffered NIKE losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/nike-inc?utm_source=PR&utm_medium=link&utm_campaign=nke&mktm=r

You can also contact attorney Jonathan Naji, Esq. of Kessler Topaz by calling (484) 270-1453 or by email at info@ktmc.com.

DEFENDANTS' MISCONDUCT
The Class Period begins on March 19, 2021, in connection with NIKE's announcement of its financial results for the third quarter of fiscal year 2021, and related investor earnings call. In connection with these results, Defendant John J. Donahoe II (the Company's President and Chief Executive Officer) touted that "NIKE continues to deeply connect with consumers all over the world driven by our strong competitive advantages" and that "[o]ur strategy is working, as we accelerate innovation and create the seamless, premium marketplace of the future." Defendant Matthew Friend (the Company's Executive Vice President and Chief Financial Officer) similarly assured investors that "NIKE's brand momentum is as strong as ever and we are driving focused growth against our largest opportunities." On the related investor earnings call, Defendant Donahoe emphasized NIKE's "tremendous success in digital" and that "NIKE's digital transformation remains a unique advantage."

Investors began to learn the truth about NIKE's inability to generate sustainable revenue growth on June 27, 2022, when the Company announced its fourth quarter and full year 2022 financial results after market close. NIKE announced that quarterly revenues declined 1% year-over-year and quarterly wholesale revenues declined 7% year-over-year. However, Defendant Donahoe reassured investors that NIKE's "strategy is working" by creating value through ...

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