NEW YORK, NY / ACCESSWIRE / July 11, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Hibbett Sports, Inc. (“Hibbett Sports” or the “Company”) (NASDAQ: HIBB). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Hibbett Sports and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On June 14, 2019, post-market, Hibbett Sports filed a Notification of Late Filing with the U.S. Securities and Exchange Commission, stating that the Company “has determined that it is unable to file its Quarterly Report on Form 10-Q for the quarter ended May 4, 2019 . . . within the prescribed time period due to the Company’s need to further review its recent adoption of the Financial Accounting Standards Board’s Accounting Standards Update (ASU) 2016-02, Topic 842, Leases, as of February 3, 2019.”
On this news, Hibbett Sports’ stock price fell $2.13 per share, or 9.67%, to close at $19.89 per share on June 17, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP