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Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Performance Sports Group Ltd (NYSE: PSG) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Performance Sports Group Ltd (NYSE: PSG) concerning whether a series of statements by Performance Sports Group Ltd regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On March 8, 2016, Performance Sports Group Ltd reduced its fiscal year 2016 guidance by roughly $0.55 per diluted share. The company attributed the reduction in guidance to a write down of the receivable balance from a national sporting goods retailer that has filed under Chapter 11 and the loss of sales from this retailer and a reduction in sales due to weakness in the baseball market.
On this news, NYSE: PSG shares declined over 66% on March 8, 2016.
Based in Exeter, New Hampshire, and founded in 1927 Performance Sports Group Ltd designs, manufactures, and distributes performance sports equipment, related apparel, and accessories for ice hockey, roller hockey, lacrosse, baseball, and softball.
If you purchased shares of Performance Sports Group Ltd (NYSE: PSG) on or before March 8, 2016, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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