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Vista Outdoor, Inc. (VSTO)

NYSE:VSTO

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Vista Outdoor, Inc. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Vista Outdoor, Inc. (“Vista” or the “Company”) (NYSE:VSTO) of the March 27, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the District of Utah on behalf of all those who purchased Vista securities between August 11, 2016, and January 13, 2017 (the “Class Period”).  The case, Lentsch v. Vista Outdoor et al, No. 17-cv-00012 was filed on January 25, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose how the softening of the outdoor sport and recreation retail environment would impact its business, operations, and prospects.

Specifically, on January 11, 2017, the Company issued a press release entitled “Vista Outdoor
Announces Expected Non-Cash Intangible Asset Impairment Charge” disclosing that it expected to record a material, non-cash intangible asset impairment charge in its Hunting and Shooting Accessories reporting unit in the third quarter of its FY 17.  The Company cited that sales decline in the market would lead to the impairment charge to be estimated at $400 to $450 million.  Then, on January 13, 2017, Vista disclosed that Kelly Grindle was being replaced by Dave Allen as President of the Company's Outdoor Products segment.

After these announcements, Vista’s share price fell from $37.79 per share on January 11, 2017 to a closing price of $29.58 on January 12, 2017 —a $8.21 or a 21.73% drop.

Take Action

If you invested in Vista stock or options between August 11, 2016, and January 13, 2017 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Vista’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Vista Outdoor, Inc. (VSTO)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/25/2017

Send Information

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