The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Weight Watchers International, Inc. (Weight Watchers or the Company) (NASDAQ: WTW) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s shares between May 4, 2018 and February 26, 2019, inclusive (the ”Class Period”), are encouraged to contact the firm before May 3, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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According to the Complaint, the Company made false and misleading statements to the market. Weight Watchers new subscriber growth and subscriber retention rates were falling due to competition from new fitness apps and other technological advances. The Company also suffered from much higher subscription lapses in the fourth quarter than it expected, leaving it unlikely to maintain 4 million subscriptions at the end of 2018. Weight Watchers was not on track to have 5 million subscribers and $2 billion in annual revenues by 2020. Based on these facts, the Companys public statements were false and materially misleading throughout the class period. When the market learned the truth about Weight Watchers, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
The Schall Law Firm
Brian Schall, Esq.,
Sherin Mahdavian, Esq.,