ACCESS Newswire
14 Aug 2022, 23:31 GMT+10
NEW YORK, NY / ACCESSWIRE / August 14, 2022 / Pomerantz LLP is investigating claims on behalf of investors of Weber Inc. (''Weber' or the 'Company') (NYSE: WEBR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Weber and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On or around August 6, 2021, Weber conducted its initial public offering ('IPO), selling approximately 17,857,143 shares of Class A common stock priced at $14.00 per share. Then, on July 25, 2022, Weber announced its preliminary third quarter 2022 financial results, including net sales between $525 million and $530 million. Weber advised investors that it expected to report a net loss, noting that '[p]rofitability was negatively impacted by' several factors, including 'promotional activity to enhance retail sell through.' Additionally, Weber announced that Chris Scherzinger 'is departing' from his roles as Chief Executive Officer and director of the Company. Since the IPO, the Company's stock price has fallen sharply, damaging investors.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
SOURCE: Pomerantz LLP
Get a daily dose of Chicago Chronicle news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Chicago Chronicle.
More InformationLONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round...
RIO DE JANEIRO, Brazil: At a two-day summit over the weekend, the BRICS bloc of emerging economies issued a joint declaration condemning...
LONDON, U.K.: This week, BP appointed Simon Henry, former Shell finance chief, to its board as a non-executive director effective September...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
(Photo credit: Ed Szczepanski-Imagn Images) The Los Angeles Dodgers will attempt to stabilize their dwindling National League West...
(Photo credit: Jesse Johnson-Imagn Images) Former major league manager Lee Elia died on Wednesday, a week before his 88th birthday,...
(Photo credit: Kirthmon F. Dozier / USA TODAY NETWORK) Joe Coleman, the No. 3 selection in the first Major League Baseball draft...
(Photo credit: Jeff Curry-Imagn Images) St. Louis Cardinals starting pitcher Miles Mikolas will seek to get his season back on track...
(Photo credit: Kamil Krzaczynski-Imagn Images) The Chicago White Sox certainly would like to start a long winning streak of their...