NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of YogaWorks, Inc. (NASDAQ:YOGA) resulting from allegations that YogaWorks may have issued materially misleading business information to the investing public.
YogaWorks conducted its initial public offering (“IPO”') in August 2017, issuing approximately 7.3 million shares of common stock priced at $5.50 per share. On August 14, 2018, YogaWorks reported its financial and operating results for the second quarter of 2018 and held a conference call to discuss the results. YogaWorks announced that it had lowered the midpoint of earnings before interest, taxes, depreciation, and amortization guidance by roughly $2.5 million, citing changes in its promotional activities as well as planned training and brand building initiatives. During the conference call, YogaWorks further disclosed that it would be pivoting from its much-touted acquisition strategy and refocusing on its base business and improving the profitability of its revenue stream. On this news, YogaWorks’ stock price fell $0.77 per share, or 41.4%, to close at $1.09 per share on August 15, 2018. YogaWorks’ stock price is currently trading almost 90% below the IPO price.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by YogaWorks investors. If you purchased shares of YogaWorks please visit the firm’s website at https://www.rosenlegal.com/cases-1470.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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