Levi Korsinsky Notifies NIKE Investors of a Class Action Lawsuit and Encourages Investors to Contact the Firm

FOR IMMEDIATE RELEASE

July 9, 2024 (Newswire) – Levi Korsinsky LLP notifies investors in NIKE Inc. (“NIKE” or the “Company”) (NYSE: NKE) of a class action lawsuit alleging that the Company violated federal securities laws.

About the NIKE Class Action Lawsuit

The lawsuit, filed in the United States District Court for the Eastern District of New York (case no. 1:24-cv-03385), alleges that, during the Class Period from October 20, 2021 and April 19, 2024, NIKE made materially false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the lawsuit alleges that NIKE failed to disclose that:

• Due to the effects of a recent change in consumer behavior, the Company was experiencing slowing demand for its products in key markets.
• As a result, the Company’s revenue and earnings were expected to decline in the near term.
• The Company’s financial projections were overly optimistic and did not accurately reflect the true state of the Company’s business.
• The Company’s internal controls over financial reporting were inadequate.
• As a result of the foregoing, the Company’s common stock traded at artificially inflated prices during the Class Period.

On April 20, 2024, NIKE announced that its revenue and earnings for the fourth quarter of fiscal 2024 had declined significantly from the same period in the prior year. The Company also announced that it expected its revenue and earnings to continue to decline in the near term. Following this news, the price of NIKE common stock declined significantly, causing investors to suffer substantial losses.

Who is Eligible?

Investors who purchased NIKE common stock during the Class Period may be eligible to participate in the class action lawsuit.

Potential Recovery

The lawsuit seeks to recover losses on behalf of NIKE investors who purchased the Company’s common stock during the Class Period. The amount of potential recovery will depend on the size of the class and the extent of damages sustained by investors.

About Levi Korsinsky

Levi Korsinsky is a leading securities litigation firm with a reputation for taking on complex class action lawsuits and recovering significant damages on behalf of investors. The firm has offices in New York, Connecticut, California, and Washington D.C. For more information about Levi Korsinsky, please visit the firm’s website at https://www.levickorsinsky.com.

Contact

Levi Korsinsky (212) 363-7500 jk@korsinsky.com