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Investigation announced for Investors in shares of Hibbett Sports, Inc. (NASDAQ: HIBB)

07-24-2019 06:21 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Hibbett Sports, Inc. (NASDAQ: HIBB) shares over potential securities laws violations by Hibbett.

An investigation for investors in Hibbett Sports, Inc. (NASDAQ: HIBB) shares over potential securities laws violations by Hibbett.

An investigation was announced on behalf of investors of Hibbett Sports, Inc. (NASDAQ: HIBB) shares over potential securities laws violations by Hibbett Sports, Inc.

Investors who purchased shares of Hibbett Sports, Inc. (NASDAQ: HIBB), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Hibbett Sports, Inc. (NASDAQ: HIBB) concerning whether a series of statements by Hibbett Sports, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Birmingham, AL based Hibbett Sports, Inc., together with its subsidiaries, engages in the retail of athletic-inspired fashion products through its stores. Hibbett Sports, Inc. reported that its Total Revenue rose from $986.21 million for the 12 months period that ended on Feb. 3, 2018 to over $1.00 billion for the 12 months period that ended on Feb. 2, 2019 and that its Net income for those time periods declined from $35.03 million to $28.42 million.
On June 14, 2019, after the markets closed, Hibbett Sports, Inc filed a "Notice of Late Filing" with the SEC, stating that it was unable to file its Quarterly Report on Form 10-Q within the necessary time period due to its recent adoption of the Financial Accounting Standards Board's Accounting Standards Update (ASU) 2016-02, Topic 842, Leases, which necessitated further review of its financial statements.

Shares of Hibbett Sports, Inc. (NASDAQ: HIBB) closed on July 23, 2019 at $18.80 per share.

Those who purchased shares of Hibbett Sports, Inc. (NASDAQ: HIBB) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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