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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 17, 2020 to file lead plaintiff applications in a securities class action lawsuit against Wanda Sports Group Company Limited (NasdaqGS: WSG), if they purchased the Company’s securities issued in connection with the Company’s July 2019 initial public stock offering (“IPO”).
Wanda Sports and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the lack of major sporting events for its Digital, Production, Sports Solutions and Spectator Sports segments for 2Q 2019, ending before the IPO, would have a negative impact on revenue for the quarter; (ii) the Company suffered a year-over-year revenue decrease in its second quarter and expected the same for its fiscal year 2019; and (iii) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.
On this news, the price of Armstrong’s shares plummeted.
If you purchased securities of Wanda Sports and and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or fill out the form on this page.
The case is Fu v. Wanda Sports Group Company Limited, 3:19cv1852. Click here to read the case complaint.