The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Oregon on behalf of investors who purchased Wanda Sports Group Company Limited (NASDAQ: WSG) securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with
Wanda Sports' July 26, 2019 initial public offering.
According to the Wanda lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the lack of major sporting events for its Digital, Production, Sports Solutions ("DPSS") and Spectator Sports segments for its second quarter of 2019, ending before the initial public offering, would negatively impact revenue for the second quarter of 2019; (2) Wanda Sports had suffered a year-over-year decrease in revenue in its second quarter ended June 30, 2019 and would for its fiscal year 2019, primarily related to lower reimbursement revenues accounted for in its DPSS segment and lack of Spectator Sport segment offsets; and (3) as a result, Defendants' statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in Wanda you have until January 17, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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