|Company name||Weight Watchers International, Inc.|
|Class period||May 4, 2018 – February 26, 2019|
|Court||Southern District of New York|
NEW YORK, March 5, 2019 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Weight Watchers International, Inc. (NASDAQ: WTW) securities between May 4, 2018 and February 26, 2019 (the “Class Period”). Investors have until May 3, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that throughout the class period defendants made false and misleading statements and/or failed to disclose adverse information regarding Weight Watchers’ business, operations and prospects. Specifically, the complaint alleges that defendants failed to disclose that Weight Watchers was experiencing diminished subscriber demand attributable to the onslaught of new competing smartphone fitness apps, meal-delivery services, and other tech advances that were driving down Weight Watchers’ new subscriber growth and its subscriber retention rates; that diminished subscriber growth, when coupled with a much larger number of fourth quarter subscription lapses than Weight Watchers typically experienced, made it highly unlikely that the company would retain four million subscribers by the end of 2018; that Weight Watchers was not on track to grow its subscriber count to five million or to drive annual revenues to more than $2 billion by the end of 2020; and that a decreased subscriber count would result in decreased revenues and profits.
If you purchased Weight Watchers securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.