The Nike swoosh logo graces the front of the Niketown store in downtown Portland, Ore., Tuesday, Sept. 29, 2009. Shoe and athletic gear maker Nike Inc. reports its fiscal first-quarter earnings after the market closes. (AP Photo/Don Ryan)

PORTLAND, Ore. (KOIN) – $5 million.

That’s the amount of money Nike is being sued for in a class action lawsuit.

The lawsuit, filed Monday in U.S. District Court, alleges that Nike has been deceptive and misleading in its labeling and marketing of items sold at its outlet stores.

The lawsuit states: “Nike misrepresented the existence, nature and amount of price discounts on products sold in Nike Outlet stores by purporting to offer discounts off of a false ‘Suggested Retail Price,’ which the Plaintiff understood to be short for the commonly used retail phrase: Manufacturer’s Suggested Retail Price (MSRP.)”

The lawsuit claims “Nike led consumers to believe that its MSRPs represented authentic price information about the products they purchased. In reality, Nike manufactures the Nike Outlet Products for exclusive sale at its Nike Outlets and always sells these goods for the advertised “OUR PRICE,” never the MSRP.”

Nike said it would not comment on pending litigation.

You can read the entire lawsuit: