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Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Weight Watchers International, Inc.Law Offices of Howard G. Smith reminds investors of the upcoming May 3, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Weight Watchers International, Inc. ("Weight Watchers" or the "Company") (NASDAQ: WTW) securities between May 4, 2018 and February 26, 2019, inclusive (the "Class Period"). Investors suffering losses on their Weight Watchers investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected]. On February 26, 2019, Weight Watchers announced that its subscriber count had declined to 3.9 million subscribers, and stated that enrollment would continue to decline during 2019. Weight Watchers also announced that it was targeting revenues of only $1.4 billion for fiscal year 2019, significantly less than the nearly $1.7 billion in revenues it had led the market to expect. On this news, Weight Watchers' share price fell $10.20, or nearly 35%, to close at $19.37 per share on February 27, 2019 thereby injuring investors. The complaint filed in this class action alleges that, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) 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 subscriber retention rates; (2) diminished subscriber growth, when coupled with a much larger number of fourth quarter subscription lapses than Weight Watchers would typically experience, made it highly unlikely that Weight Watchers would retain four million subscribers by the end of 2018; (3) 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; (4) a decreased subscriber count would result in decreased revenues profits; and (5) as a result, defendants' statements about Weight Watchers' business metrics and financial prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. If you purchased shares of Weight Watchers during the Class Period you may move the Court no later than May 3, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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