Globe Newswire 15-Mar-2019 10:50 PM
NEW ORLEANS, March 15, 2019 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 3, 2019 to file lead plaintiff applications in a securities class action lawsuit against Weight Watchers International, Inc. (NASDAQ:WTW), if they purchased the Company's shares between May 4, 2018 and February 26, 2019, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
Weight Watchers investors should visit us at https://www.claimsfiler.com/cases/view-weight-watchers-international-inc-securities-litigation-1 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Weight Watchers and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 26, 2019, the Company disclosed that its quarterly subscriber count had decreased to 3.9M subscribers with enrollment continuing to decline during FY2019; its FY2019 revenue target was downgraded to $1.4 billion, much less than the nearly $1.7 billion it had led the market to expect; and EPS had decreased to $1.25-$1.50, significantly lower than market expectations of $3.36.
On this news, the price of Weight Watchers' shares plummeted.
The case is Potts v. Weight Watchers Int'l, Inc., 19-cv-2005.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
To learn more about ClaimsFiler, visit www.claimsfiler.com.
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