Investigation Overview
May 11, 2015 (Shareholders Foundation) - An investigation on behalf of investors of NYSE:WTW shares concerning possible violations of Federal Securities Laws violations by Weight Watchers International, Inc. was announced.
The investigation by a law firm focuses on whether certain statements regarding Weight Watchers Internationals business, its prospects and its operations were materially false and misleading at the time they were made.
On February 26, 2015, Weight Watchers International, Inc. announced its fourth quarter and full year 2014 results and provided its full year 2015 guidance. Weight Watchers International, Inc. reported that its Total Revenue declined from over $1.72 billion for the 52 weeks period that ended on December 28, 2013 to over $1.47 billion for the 53 weeks period that ended on January 3, 2015 and that its respective Net Income decreased from $204.72 million to $98.65 million. Shares of Weight Watchers International, Inc. (NYSE:WTW) declined from $28.92 per share in December 2014 to as low as $6.90 per share in March 2015.
Then on May 5, 2015, Weight Watchers International, Inc announced its first quarter 2015 results. Weight Watchers International, Inc also announced that 'the Audit Committee of the Board of Directors of the Company (the 'Audit Committee') concluded that the Company's previously issued consolidated financial statements for the fiscal year ended January 3, 2015 ('fiscal 2014') as contained in the Company's 2014 Annual Report on Form 10-K should be restated with respect to the accounting for certain franchise rights acquired.' Shares of Watchers International, Inc. (NYSE:WTW) declined on May 6, 2015 to as low as $7.10 per share.