Collective Brands (PSS) is seeing five times its normal trading volume and implied volatility is higher after the company commented that a $305 million verdict had been reached in a previously disclosed adidas matter in federal court. Company believes verdict was excessive and unjustified. Company intends to ask court to set aside verdict and, if not granted, will take steps to try and overturn it. Stock is down $2.58 to $9.73, but off session lows of $9.14 a share.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.