Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Weber Inc. (“”Weber” or the “Company”) (NYSE: WEBR) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Weber investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation concerns whether Weber and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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