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NEW ORLEANS,– Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 3, 2019 to file lead plaintiff applications in a securities class action lawsuit against Weight Watchers International, Inc. (NasdaqGS: 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.
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, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-wtw/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 3, 2019.
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.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.