Ollie's Bargain Outlet Holdings, Inc. 10-K

Item 3. Legal Proceedings On September 17, 2019, a purported shareholder class action lawsuit captioned Robert Stirling et al. v. Ollie’s Bargain Outlet Holdings, Inc. et al., Civ. No. 1:19-cv-08647-JPO was filed in the United States District Court for the Southern District of New York against the Company, Mark Butler, Jay Stasz, and John Swygert alleging federal securities law violations. After the Court appointed lead plaintiffs Bernard L. Maloney and Nathan Severe to act on behalf of the putative class, the lead plaintiffs filed an amended complaint alleging defendants made materially false and misleading statements and/or failed to disclose material information about the Company’s earnings, projections, supply chain, and inventory during the period March 26, 2019 through August 28, 2019. On May 8, 2020, Ollie’s and the individual defendants moved to dismiss the action in its entirety, which was fully briefed by July 22, 2020. On February 10, 2021, the court entered an Order granting Ollie’s and the individual defendants’ motion to dismiss the case as failing to state a claim and ordered the case to be closed. From time to time we may be involved in claims and legal actions that arise in the ordinary course of our business. We cannot predict the outcome of any litigation or suit to which we are a party. However, we do not believe that an unfavorable decision of any of the current claims or legal actions against us, individually or in the aggregate, will have a material adverse effect on our financial position, results of operations, liquidity or capital resources. Item 4. Mine Safety Disclosures Not applicable. 36 Index PART II