SAN FRANCISCO, April 26, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, with 9 offices in 8 cities across the country and 80 attorneys, reminds investors in Weight Watchers International, Inc. (NASDAQ: WTW) of the pending securities class action in the U.S. District Court for the Southern District of New York.
If you purchased or otherwise acquired WTW stock between May 4, 2018 and February 26, 2019 (the “class period”) and suffered substantial losses (in excess of $100,000), you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case.
If you wish to serve as lead plaintiff in this class action, you must move the Court no later than May 3, 2019 (the “Lead Plaintiff deadline”). Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:
https://www.hbsslaw.com/cases/WTW
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, during the class period Defendants misled investors by omitting to disclose that Weight Watchers was experiencing diminished subscriber demand attributable to the onslaught of new competing smartphone fitness apps, meal delivery services, and other tech advances that were driving down the Company’s new subscriber growth and subscriber retention rates.
On February 26, 2019, after the close of trading, Defendants announced disappointing financial results for the 2018 fourth quarter and fiscal year. In addition, Defendants slashed revenue guidance for the Company’s 2019 fiscal year.
This news drove the price of Weight Watchers shares down $10.20, or about 34%, to close at $19.37 on February 27, 2019.
“We’re focused on investors’ losses, certain insider trading, and whether Defendants’ statements may have misled investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Weight Watchers 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 510-725-3000 or email WTW@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80 attorneys in 9 offices across the country. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000