NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 8, 2018 to file lead plaintiff applications in a securities class action lawsuit against Foot Locker, Inc. (NYSE: FL), if they purchased the Company’s shares between August 19, 2016 and August 17, 2017, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of New York.
Foot Locker investors should visit us at https://www.claimsfiler.com/cases/view-foot-locker-inc-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Foot Locker and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 18, 2017, the Company revealed negative financial results for the second quarter of fiscal year 2017, including revenue significantly below expectations, attributed in part to lower same-store sales, that many more stores were being closed than previously announced, and that weaker sales were expected for the rest of the fiscal year.
On this news, the price of Foot Locker’s shares plummeted.
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