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YogaWorks, Inc. (NASDAQ: YOGA) Investor Securities Class Action Lawsuit 12/27/2018

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Lawsuit Overview

Case Dismissed
Company
YogaWorks, Inc.
Security
NASDAQ: YOGA

Case Name
YogaWorks Shareholder Class Action Lawsuit 12/27/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Central District of California

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

April 23, 2020 - The court granted the defendants' motion to dismiss.

February 14, 2020 - A motion to dismiss the amended consolidated complaint was filed

January 14, 2020 - An amended consolidated complaint was filed.

December 3, 2019 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

July 23, 2019 - A motion to dismiss the consolidated complaint was filed.

May 21, 2019 - A consolidated complaint was filed.

December 27, 2018 - An investor in shares of YogaWorks, Inc. (NASDAQ: YOGA) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by YogaWorks, Inc. in connection with certain allegedly false and misleading statements made in connection with YogaWorks’ initial public offering commenced on or about August 10, 2017 and closed on August 16, 2017 (the “IPO”).

Culver City, CA based YogaWorks, Inc. operates yoga studios under the YogaWorks and Yoga Tree brand names in the United States. YogaWorks, Inc. reported that its annual Total Revenue rose from $55.09 million in 2016 to $54.51 million in 2017 and that its Net Loss increased from $9.5 million in 0216 to $23.43 million in 2017. Shares of YogaWorks, Inc. (NASDAQ: YOGA) declined to as low as $0.883 per share on October 30, 2018.

According to the complaint the plaintiff alleges that YogaWorks’ Registration Statement and Prospectus made materially misleading statements regarding YogaWorks’ studio-level economics and the adverse trends it faced in declining studio profitability, regarding reasons for YogaWorks’ declining revenue, including increasing corporate overhead costs, and regarding YogaWorks’ increasing corporate infrastructure costs and inability to achieve economies of scale.