NEW ORLEANS, March 21, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 20, 2014 to file lead plaintiff applications in a securities class action lawsuit against Weight Watchers International, Inc. (NYSE:WTW), if they purchased the Company's securities during the period between February 14, 2012 and October 30, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Weight Watchers and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 20, 2014.
About the Lawsuit
Weight Watchers and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
These false statements and omissions included, in part, that: (i) Weight Watchers was experiencing execution issues which were causing it to miss its internally forecasted financial plan; (ii) Weight Watchers was experiencing a significant drop in its North America and United Kingdom meeting attendance figures; and (iii) Weight Watchers was facing increased competition from free weight-loss apps and its enrollment was being negatively impacted.
On October 30, 2013, Weight Watchers admitted that steep declines in recruitment caused by a wave of free apps were undermining revenues, forcing the Company to indefinitely suspend the regular dividend it had paid to investors since 2006. On this news, the price of Weight Watchers' stock plummeted by over 19%
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.