June 3, 2020 - The case was voluntarily dismissed.

April 2, 2020 - A notice appealing the court's dismissal was filed.

March 30, 2020 - The complaint was not amended. The case was dismissed.

February 6, 2020 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

October 17, 2019 - A motion to dismiss the amended complaint was filed.

August 19, 2019 - An amended complaint was filed.

November 9, 2018 - An investor in shares of Welbilt, Inc. (NYSE: WBT) filed a lawsuit in the U.S. District Court for the Middle District of Florida over alleged violations of Federal Securities Laws by Welbilt, Inc. in connection with certain allegedly false and misleading statements made between February 24, 2017, and November 2, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Welbilt, Inc. (NYSE: WBT) common shares between February 24, 2017, and November 2, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 24, 2017, and November 2, 2018, Welbilt made materially false and/or misleading statements and/or failed to disclose that the Company lacked effective internal control over financial reporting, that the Company was incorrectly recording the tax basis of foreign subsidiaries and the amortization of their intangible assets, and that as a result of the foregoing, Defendants’ statements about Welbilt’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

New Port Richey, FL based Welbilt, Inc. designs, manufactures, and services hot and cold category commercial foodservice equipment worldwide. Welbilt, Inc. reported that its annual Total Revenue declined from over $1.45 billion in 2016 to over $1.44 billion in 2017 and that its Net INcome of $79.5 million in 2016 increased to a $134.00 million in 2017. Shares of Welbilt, Inc. (NYSE: WBT) reached as high as $23.77 per dshare in July 2018.

On November 5, 2018 Welbilt, Inc. filed a Form with the Securities and Exchange Commission (“SEC”) for its third quarter2018, stating that “During the third quarter of 2018, the Company identified errors in the tax basis of a foreign subsidiary and incorrect amortization of the intangible assets held by the same entity… In addition, the Company discovered certain intercompany transactions were not recorded on a timely basis.” As a result of these errors, Welbilt, Inc. announced that “the consolidated financial statements of the Company as of and for the year ended December 31, 2016 will be restated, and as of and for the years ended December 31, 2015 and 2017 are expected to be revised.” Shares of Welbilt, Inc. (NYSE: WBT) declined to as low as $13.40 per share on November 6, 2018.