Nike, Inc.
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Oregon on behalf of those who acquired Nike, Inc. (“Nike” or the “Company”) (NYSE: NKE) securities during the period of March 19, 2021 through March 21, 2024 inclusive (“the Class Period”). Investors have until August 19, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that: (1) NIKE’s direct-to-consumer strategy was unable to generate sustainable revenue growth; and(2) NIKE’s competitive advantages were unable to protect the Company from intense competitive pressures after NIKE largely disengaged from many of its wholesale and retail partners to focus on the Company’s direct-to-consumer strategy.
The lawsuit alleges that: (1) NIKE’s direct-to-consumer strategy was unable to generate sustainable revenue growth; and(2) NIKE’s competitive advantages were unable to protect the Company from intense competitive pressures after NIKE largely disengaged from many of its wholesale and retail partners to focus on the Company’s direct-to-consumer strategy.