SAN DIEGO & BIRMINGHAM, Ala.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Hibbett Sports, Inc. (NASDAQ: HIBB) violated federal securities law. Hibbett Sports engages in the retail of athletic-inspired fashion products through its stores.
View this press release on the firm's Shareholder Rights Blog:
Hibbett Sports Fails to File its Form 10-Q on Time
On June 14, 2019, after the markets closed, Hibbett Sports filed a "Notice of Late Filing" with the SEC, stating that it was unable to file its Quarterly Report on Form 10-Q within the necessary time period due to its recent adoption of the Financial Accounting Standards Board's Accounting Standards Update (ASU) 2016-02, Topic 842, Leases, which necessitated further review of its financial statements. On this news, shares of Hibbett Sports fell $2.13, or nearly 9.67%, to close at $19.89 on June 17, 2019.
Hibbett Sports Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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