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INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Weight Watchers International, Inc. Investors

BENSALEM, Pa.--(BUSINESS WIRE)--

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Weight Watchers International, Inc. (“Weight Watchers” or the “Company”) (NASDAQ: WTW) securities between May 4, 2018 and February 26, 2019, inclusive (the “Class Period”). Weight Watchers investors have until May 3, 2019 to file a lead plaintiff motion.

Investors suffering losses on their Weight Watchers investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On February 26, 2019, Weight Watchers announced that its subscriber count had declined to 3.9 million subscribers, and stated that enrollment would continue to decline during 2019. Weight Watchers also announced that it was targeting revenues of only $1.4 billion for fiscal year 2019, significantly less than the nearly $1.7 billion in revenues it had led the market to expect. On this news, Weight Watchers’ share price fell $10.20, or nearly 35%, to close at $19.37 per share on February 27, 2019, thereby injuring investors.

The complaint filed in this class action alleges that, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Weight Watchers was experiencing diminished subscriber demand attributable to the onslaught of new competing smartphone fitness apps, meal-delivery services, and other tech advances that were driving down Weight Watchers’ new subscriber growth and subscriber retention rates; (2) diminished subscriber growth, when coupled with a much larger number of fourth quarter subscription lapses than Weight Watchers would typically experience, made it highly unlikely that Weight Watchers would retain four million subscribers by the end of 2018; (3) Weight Watchers was not on track to grow its subscriber count to five million or to drive annual revenues to more than $2 billion by the end of 2020; (4) a decreased subscriber count would result in decreased revenues profits; and (5) as a result, defendants’ statements about Weight Watchers’ business metrics and financial prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you purchased shares of Weight Watchers, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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