Alex Van Rysselberghe and B. John Casey of Stoel Rives have stepped in to represent Nike and its top officials in a pending shareholder derivative lawsuit. The suit, filed July 24 in Oregon District Court by Black Helterline LLP and the Brown Law Firm, centers on Nike's implementation of a direct-to-consumer strategy, which led the company to drop nearly one-third of its sales partners. According to the suit, the defendants made misleading statements regarding the strategy's inability to generate revenue growth and the adverse effects of 'intense competitive pressures' without the company's former retail partners. The case, assigned to U.S. District Judge Amy M. Baggio, is 3:24-cv-01195, Leung et al v. Donahoe et al.
Retail & Consumer Goods
September 09, 2024, 11:03 AM