Kuznicki Law PLLC notifies investors that a class action has commenced on behalf of shareholders of YogaWorks, Inc. who purchased shares pursuant to the IPO commenced around August 10, 2017 and closed August 16, 2017. The action was filed in the USDC for the Central District of California.
The complaint alleges that Defendants violated their disclosure obligations because the Offering Materials materially misrepresented and failed to adequately disclose the truth concerning several known trends negatively impacting YogaWorks’ business at the time of the IPO, including, inter alia: (i) declining studio profitability; (ii) the impact of increased corporate overhead; (iii) declining financial metrics that would ultimately lead to a substantial impairment charge and (iv) the conditions that led the Defendants to postpone the initial offering.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until February 25, 2019 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
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