Shareholders recently urged a law firm to file a securities class action lawsuit against a weight loss company after it potentially violated federal securities laws.
Law office Bronstein, Gewirtz and Grossman, LLC, noted the litigation was filed in the U.S. District Court for the Southern District of New York against Weight Watchers International, Inc. This involves all shareholders who acquired interests in the company during the class period between Feb. 14, 2012, and Oct. 30, 2013.
The lawsuit made multiple allegations against the company. These include Weight Watchers International going through problems that forced it to not meet its initial financial plan, a notably lowered attendance level for its meetings in both the United Kingdom and North America, as well as the company's event participation being negatively affected by competitors.
Shareholders have an option to become lead plaintiff in this case. In order to do this, it is important to file the proper paperwork with the court by May 20, 2014. However, this isn't necessary for those who would rather remain an absent class member and collect in the event of a financial return.
For those shareholders who have questions about the lawsuit, their rights and how the process may affect them, it is possible to speak with the law firm to learn more. Both Peretz Bronstein and Eitan Kimelman are available to be contacted by telephone or email. Those who choose to reach the firm by the latter should also provide their telephone number and mailing address.
Second lawsuit filed
Another law firm filed a class action claim against Weight Watchers International in the same court for the aforementioned class period.
Law office Kessler Topaz Meltzer and Check, LLP, noted it filed the lawsuit for many of the same reasons. On Feb. 13, 2013, the company noted that its financial results for 2012 were notably lower than initially expected. The estimates made by analysts were approximately $4.75 per share, while the company noted that earnings would actually be between $3.50 to $4 per share.
This law firm is also open to speaking with shareholders about the issues at hand. It is possible to speak with either Adrienne Bell or Seamus Kaskela through telephone or email. There is also an ability for shareholders to visit the law office's website to gain more information.