GlobeNewswire Inc | Nov 9, 2020 03:52PM EST

November 09, 2020

SAN FRANCISCO, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Hagens Berman urges Columbia Sportswear Company (NASDAQ COLM) investors with significant losses to submit your losses now. The firm is investigating possible securities fraud and certain investors may have valuable claims.

Relevant Period: Before Oct. 30, 2020Visit: www.hbsslaw.com/investor-fraud/COLMContact An Attorney Now:COLM@hbsslaw.com844-916-0895

Columbia Sportswear Company (COLM) Investigation:

The investigation centers on the accuracy of Columbias statements about its financial guidance for, and related operations concerning, its Q3 2020 financial results.

More specifically, during Columbias Q2 2020 earnings call on July 30, 2020 management assured investors that [d]espite supply chain disruptions related to the pandemic that occurred earlier in the year, we expect to deliver the vast majority of our fall order book on time.

Then, on Oct. 29, 2020, Columbia announced disappointing Q3 2020 financial results that were down substantially in comparison to last year. Management blamed the disappointment in part on a 28% year-over-year decline in wholesale business and said approximately $45 million of fall 2020 shipments shifted into Q4.

This news drove the price of Columbia shares sharply lower the next day.

Were focused on investors losses and whether Columbia intentionally misled investors about the timing of sales going into its third quarter and the seriousness of any related operational disruptions, said Hagens Berman partner Reed Kathrein. We welcome speaking to persons with knowledge of the real reasons for the decline.

If you are a Columbia investor and have significant losses, or have knowledge that may assist the firms investigation and prosecution of this matter, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Columbia should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email COLM@hbsslaw.com.

About Hagens BermanHagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact Reed Kathrein, 844-916-0895