Wanda Sports Group Company Limited : American Depositary Shares Securities Litigation
On or around 11/19/2019 (Date of last review)
Filing Date: November 18, 2019
According to the Complaint, Wanda Sports purports to be a global sports events, media and marketing platform with significant intellectual property rights.
In July 2019, Defendants held an IPO, issuing approximately 23.8 million American Depository Shares to the investing public at $8.00 per share, pursuant to the Registration Statement. The Complaint alleges that the Registration Statement featured false and/or misleading statements and/or failed to disclose that: (1) the lack of major sporting events for its Digital, Production, Sports Solutions (“DPSS”) and Spectator Sports segments for its second quarter of 2019, ending before the IPO, would negatively impact revenue for the second quarter of 2019; (2) Wanda Sports had suffered a year-over-year decrease in revenue in its second quarter ended June 30, 2019 and would for its fiscal year 2019, primarily related to lower reimbursement revenues accounted for in its DPSS segment and lack of Spectator Sport segment offsets; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Company & Securities Information
Defendant: Wanda Sports Group Company Limited
Industry: Business Services
Ticker Symbol: WSG
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.
First Identified Complaint
Cherry Fu, et al. v. Wanda Sports Group Company Limited, et al.
COURT: D. Oregon
DOCKET #: 19-CV-01852
JUDGE: Hon. Anna J. Brown
DATE FILED: 11/18/2019
CLASS PERIOD START: 07/26/2019
CLASS PERIOD END: 11/18/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Ransom, Gilbertson, Martin & Ratliff, LLP
The Rosen Law Firm, P.A. (NY)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available