BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Weight Watchers International, Inc. investors (“Weight Watchers” or the “Company”) (NASDAQ: WTW) concerning the Company and its officers’ possible violations of federal securities laws.
On February 26, 2019, Weight Watchers issued a press release and conducted a conference call with investors and stock analysts disclosing the Company's financial and operating results for the fourth quarter and fiscal year 2018. Weight Watchers announced that its subscriber count had declined to 3.9 million describers, and stated that enrollment would continue declining during 2019. Specifically, Weight Watchers was targeting revenues of only $1.4 billion for fiscal year 2019, significantly less than the nearly $1.7 billion in revenues it had led the market to expect, and earnings per share ("EPS") of only $1.25 to $1.50, far lower than the EPS of $3.36 that the Company had previously led the market to expect.
On this news, shares of Weight Watchers' fell $10.20 per share, or nearly 35%, to close at $19.37 per share on February 27, 2019, thereby injuring investors.
If you purchased Weight Watchers securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.