Performance Sports Group (PSG) Says Target of U.S. SEC Investigation
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Performance Sports Group (NYSE: PSG) disclosed the following on Wednesday:
Item 8.01 Other Events.
An article appearing in the August 15, 2016 edition of New Hampshire Business Review reported that a Performance Sports Group spokesman “said that the firm is not under any investigation by federal authorities, though it is the target of six class action suits filed in May and consolidated in U.S. District Court in New York.”
That report is not accurate. While its August 15 announcement referenced an internal investigation, Performance Sports Group is also the subject of inquiries by U.S. and Canadian securities regulators, including an investigation by the U.S. Securities and Exchange Commission. It is also a named defendant in only one shareholder class action lawsuit now pending in the U.S. District Court for the Southern District of New York.
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