According to the Complaint, Welbilt, Inc is a commercial foodservice equipment company. Welbilt designs, manufactures and supplies food and beverage equipment for the global commercial foodservice market.

The Complaint alleges that throughout the Class Period, Welbilt made materially false and/or misleading statements and/or failed to disclose that: (i) the Company lacked effective internal control over financial reporting; (ii) the Company was incorrectly recording the tax basis of foreign subsidiaries and the amortization of their intangible assets; and (iii) as a result of the foregoing, Defendants’ statements about Welbilt’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

This case was voluntarily dismissed on November 12, 2018. A related case continues under Docket 18-CV-03007.

On July 3, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on August 19. Defendants filed a Motion to Dismiss the amended Complaint on October 17. On February 6, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. Plaintiffs failed to file an amended Complaint by the deadline, and on March 30, the Court dismissed the case with prejudice. On April 2, Plaintiffs filed a notice appealing the Court's dismissal Order. Plaintiffs voluntarily dismissed the appeal on June 3.