Dick’s Sporting Items Board Slams Inventory Lawsuit as Nonsensical

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The board of directors of Dick’s Sporting Goods Inc., including CEO Ed Stack, shot back in Delaware after claiming they gave themselves stock markups that skyrocketed as the market moved away from the Covid-19 pandemic recovered, and ridiculed the allegations as a “break through clairvoyance. ”

The shareholders’ lawsuit “rests on the allegation that Stack, acting in the midst of an unprecedented public health crisis, somehow ‘knew’ that Dick’s stock price would rebound quickly,” the board said in a motion to dismiss the case in Delaware Chancery Court .

“No part of the plaintiff’s claims can survive without stacking this completely implausible power of …

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