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Case Status:    ONGOING    
On or around 10/04/2019 (Ongoing date of last review)

Filing Date: March 04, 2019

According to the Complaint, Weight Watchers offers a subscription-based weight loss program.

The Complaint alleges that during 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 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.

On June 12, 2019, the Court issued an Order consolidating cases and appointing Co-Lead Plaintiffs and Co-Lead Counsel. Co-Lead Plaintiffs filed a consolidated amended Complaint on July 31. On September 27, Co-Lead Plaintiffs filed a second consolidated amended Complaint.

COMPANY INFORMATION:

Sector: Services
Industry: Personal Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: WTW
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 19-CV-02005
JUDGE: Hon. William H. Pauley, III
DATE FILED: 03/04/2019
CLASS PERIOD START: 05/04/2018
CLASS PERIOD END: 02/26/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Holzer & Holzer, LLC
  2. Robbins Geller Rudman & Dowd LLP (Melville)
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 19-CV-02005
JUDGE: Hon. William H. Pauley, III
DATE FILED: 07/31/2019
CLASS PERIOD START: 05/04/2018
CLASS PERIOD END: 02/26/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Grant & Eisenhofer (New York)
    485 Lexington Avenue, 29th Floor, Grant & Eisenhofer (New York), NY
    646.722.8500 646.722.8500 · lawyers@gelaw.com
  2. Scott + Scott LLP (NY)
    405 Lexington Avenue, 40th Floor, The Chrysler Building, Scott + Scott LLP (NY), NY 10174
    (212) 223-6444 (212) 223-6444 ·
No Document Title Filing Date
—Related District Court Filings Data is not available