Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Foot Locker, Inc. (NYSE: FL).
On August 18, 2017, the Company revealed negative financial results for the second quarter of fiscal year 2017, including revenue significantly below expectations, attributed in part to lower same-store sales, that it was closing 100 more stores than previously announced, and that weaker sales were expected for the rest of the fiscal year.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which is ongoing.
KSF’s investigation is focusing on whether Foot Locker’s officers and/or directors breached their fiduciary duties to Foot Locker’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Foot Locker shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis (email@example.com), or click here.