NIKE SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuit Against NIKE, Inc. - NKE

Globe Newswire 23-Jul-2024 10:50 PM

NEW ORLEANS, July 23, 2024 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 19, 2024 to file lead plaintiff applications in a securities class action lawsuit against NIKE, Inc. (NYSE:NKE). This action is pending in the United States District Court for the District of Oregon.

What You May Do

If you are a current shareholder of NIKE and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-nke/ to learn more.

About the Lawsuit

NIKE and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On March 21, 2024, the Company released its 3Q2024 financial results, disclosing a 3% year-over-year decline in revenue in its Europe, Middle East, and Africa segment, a 3% year-over-year decline in NIKE Digital revenue, and scant quarterly revenue growth of approximately 0.4% year-over-year in NIKE Direct. On this news, the price of NIKE Class B shares fell $6.96 per share, or nearly 7%, from a close of $100.82 per share on March 21, 2024, to close at $93.86 per share on March 22, 2024.

The case is City Pension Fund for Firefighters and Police Officers in the City of Pembroke Pines v. NIKE, Inc., et al., 24-cv-00974.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163