NEW YORK, Aug. 10, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Weber Inc. (“Weber” or “Company”) (NYSE: WEBR). Weber is an outdoor cooking company that sells grills, smokers, grilling accessories, and solid fuel products across the world.
If you purchased or otherwise acquired Weber Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with Weber’s August 2021 initial public offering (“IPO”) and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
If you are a member of the proposed Class, you may move the court no later than September 27, 2022 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery.
On or around August 6, 2021, Weber conducted its IPO by selling over 17.8 million shares of Class A common stock at $14.00 per share.
On July 25, 2022, Weber announced its preliminary third quarter 2022 financial results, including net sales between $525 million and $530 million. Weber also 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.
Following this news, the Company’s stock price fell $0.95 per share to close at $6.56 per share on July 25, 2022.
Since the IPO, the price of Weber’s Class A common stock has fallen over 55%, closing as low as $6.25 per share on July 26, 2022.
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If you have any questions about this Notice, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: dhall@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
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Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
