STEVENSON, Md., March 25, 2014 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Weight Watchers International, Inc. ("Weight Watchers" or the "Company") (NYSE:WTW) common stock during the period between February 14, 2012 and October 30, 2013, inclusive (the "Class Period").
If you have suffered a loss from investment in Weight Watchers common stock purchased on or after February 14, 2012 and held through the revelation of negative information on October 30, 2013, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or financial obligation, click here: http://www.browerpiven.com/securitiesfraudcases.html.
You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than May 20, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that Weight Watchers was experiencing execution issues which were causing it to miss its internally forecasted financial plan, was experiencing a significant drop in its North America and United Kingdom meeting attendance figures, and was facing increased competition from free weight-loss apps and its enrollment was being negatively impacted. According to the complaint, following the Company's October 30, 2013 disclosure that steep declines in recruitment caused by a wave of free apps were undermining revenues and that the Company was indefinitely suspending the regular dividend it had paid to investors since 2006, the value of Weight Watchers shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.