LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the March 27, 2017 deadline to file a lead plaintiff motion in the class action filed by GPM on behalf of a class (the “Class”) of investors who purchased Vista Outdoor, Inc. (“Vista” or the “Company”) (NYSE: VSTO) securities between August 11, 2016, and January 13, 2017, inclusive (the “Class Period”). Vista investors have until March 27, 2017 to file a lead plaintiff motion.
Vista designs, manufactures and markets consumer products in the outdoor sports and recreation markets. Vista operates in two segments, Shooting Sports and Outdoor Products.
The complaint filed in this lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s Outdoor Products segment, 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 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; (4) that, as a result, the Company would have to recognize an impairment charge in the range of $400 million to $450 million; and (5) that, as a result of the foregoing, Defendants’ statements about Vista’s business, operations and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired Vista securities during the Class Period you may move the Court no later than March 27, 2017 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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