NEW YORK, Jan. 06, 2020 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a federal securities class action lawsuit has been filed in the United States District Court for the District of Oregon on behalf of investors that purchased Wanda Sports Group Company Limited (WSG) American Depositary Receipts (“ADR’s”) pursuant and/or traceable to the registration statement and related prospectus (collectively, the "Registration Statement") issued in connection with Wanda Sports’ July 26, 2019 initial public offering (“IPO”).
Investors who purchased the ADR’s of Wanda Sports Group Company Limited are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the ADR’s of Wanda Sports Group Company Limited, you may, no later than January 17, 2020, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the ADR’s of Wanda Sports Group Company Limited.
In July of 2019, Wanda Sports issued its IPO, selling approximately 23.8 million ADR’s at $8.00 per receipt, pursuant to the Registration Statement. Since selling shares on a U.S. exchange, Wanda Sports’ ADR’s have lost 60% of their value, trading as low as $2.70 on November 19, 2019.
The filed complaint alleges that defendants made statements that were materially false and/or misleading because they misrepresented and failed to disclose the following adverse facts pertaining to the Company’s business, operations and prospects:
- the lack of major sporting events for its DPSS and Spectator Sports segments for its second quarter of 2019, ending before the IPO, would negatively impact revenue for the second quarter of 2019;
- Wanda Sports had suffered a year-over-year decrease in revenue in its second quarter ended June 30, 2019 and would for its fiscal year 2019, primarily related to lower reimbursement revenues accounted for in its DPSS segment and lack of Spectator Sport segment offsets; and
- as a result, defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org
Tel: (800) 575-0735 or (212) 545-4774
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