Dick’s Sporting Goods Investor Drops Covid Profiteering Claims

Oct. 18, 2021, 6:46 PM

A Dick’s Sporting Goods Inc. investor dropped claims that members of its board, including executive chairman Ed Stack, gave themselves equity awards worth tens of millions at prices depressed by the Covid-19 pandemic, according to a Delaware Chancery Court filing.

The shareholder plaintiff voluntarily dismissed the case without prejudice in an Oct. 15 joint stipulation, stating expressly that no money had changed hands and technically reserving the right to refile the lawsuit. Those circumstances strongly indicate the claims were withdrawn, not settled.

Vice Chancellor Paul A. Fioravanti granted the dismissal motion the same day.

A lawyer for the Dick’s directors ...

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