Investors Fight Performance Sports Execs' Bid To Nix Suit
Law360 (December 13, 2019, 7:36 PM EST) -- Investors suing two executives of Performance Sports Group for allegedly bankrupting the sports gear manufacturer are fighting back against a dismissal bid, saying the bigwigs clearly misled shareholders by touting "organic" growth that was really driven by self-destructive "gun to head" sales practices and accounting gimmicks.
The defendants, former PSG CEO Kevin Davis and former Chief Financial Officer Amir Rosenthal, filed a motion to dismiss the suit in October, arguing that lead plaintiff Plumbers & Pipefitters National Pension Fund's securities fraud claims are way off-base. The pair said all the sales numbers they presented to investors in the run-up to PSG's...
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