NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all persons or entities who acquired YogaWorks, Inc. (“YogaWorks” or the “Company”) (NASDAQ: YOGA) securities between August 7, 2017 and December 27, 2018 (the “Class Period”). Investors have until February 25, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
According to the lawsuit, YogaWorks’ Registration Statement and Prospectus made materially misleading statements regarding: (1) YogaWorks’ studio-level economics and the adverse trends it faced in declining studio profitability; (2) reasons for YogaWorks’ declining revenue, including increasing corporate overhead costs; and (3) YogaWorks’ increasing corporate infrastructure costs and inability to achieve economies of scale.
On or around August 11, 2017, YogaWorks conducted its initial public offering (“IPO”), issuing approximately 7.3 million shares of common stock priced at $5.50 per share. As of December 27, 2018, YogaWorks’ stock closed at $0.45 or approximately 92% below its IPO price.
If you acquired YogaWorks securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
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