NEW YORK, NY / ACCESSWIRE / January 16, 2020 / Pomerantz LLP is investigating claims on behalf of investors of Wanda Sports Group Company Ltd. ("Wanda" or the "Company") (NASDAQ:WSG) Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Wanda Sports and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around July 25, 2019, Wanda Sports completed its initial public offering (the "IPO" or "Offering"), issuing approximately 23.8 million American Depositary Shares ("ADSs") priced at $8.00 per share. Then, on September 9, 2019, Wanda Sports reported its financial results for the second quarter of 2019. The Company advised investors that total revenue had decreased 30% year-over-year, which Wanda Sports attributed "primarily . . . to decreased revenue from the Digital, Production, Sports Solutions (DPSS) segment." Wanda Sports also provided full year 2019 revenue guidance "in the range of €1,008 million to €1,070 million, or down 11% to 5% from 2018."
Since the IPO, Wanda's ADSs have closed as low as $2.78 per share, representing a decline of 65.25% from the Offering price.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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.pomerantzlaw.com
SOURCE: Pomerantz LLP