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Foot Locker Class Action Lawsuit Commences

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April 17, 2018

To: All persons or entities who purchased or otherwise acquired securities of Foot Locker, Inc. (“Foot Locker”) (NYSE: FL) between August 19, 2016 and August 17, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Eastern District of New York. To get more information about the Foot Locker class action go to: http://www.zlk.com/pslra-d/foot-locker-incor contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Foot Locker class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Foot Locker’s vendors were transitioning to selling through various online retailers, diminishing the utility of Foot Locker’s large number of brick and mortar stores and the value of its exclusivity relationships with those vendors; (2) competition with online retailers had increased the pricing competition Foot Locker faced while also materially lowering the demand at Foot Locker stores; and (3) as a result of defendants’ failure to disclose this information, Foot Locker stock was artificially inflated to a high of $79.20 per share during the Class Period, while executives were able to sell over 192,000 shares of their personally held Foot Locker stock at artificially inflated prices.

 

If you suffered a loss in Foot Locker you have until May 8, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.