Key Developments: Weight Watchers International Inc (WTW)
5 Mar 2015
Latest Key Developments (Source: Significant Developments)
Bronstein, Gewirtz & Grossman, LLC notifies investors of class action against Weight Watchers International, Inc.
Bronstein, Gewirtz & Grossman, LLC:Class action has been filed in United States District Court for Southern District of New York on behalf of those who purchased shares of Weight Watchers International, Inc. during period between Feb. 14, 2012 and Oct. 30, 2013.Complaint charges Weight Watchers and certain of its executives with violations of federal securities laws.Complaint alleges that Weight Watchers misrepresented and/or failed to disclose that Company was experiencing execution issues which were causing it to miss its internally-forecasted financial plan.Company was experiencing a significant drop in its meeting attendance figures in North America and the United Kingdom.Enrollment was being negatively impacted by increased competition from free weight-loss apps. Full Article
Kessler Topaz Meltzer & Check, LLP files class action lawsuit against Weight Watchers International, Inc
Kessler Topaz Meltzer & Check, LLP:Files a class action lawsuit against Weight Watchers International, Inc in the United States District Court on behalf of purchasers of the common stock between Feb. 14, 2012 and Oct. 30, 2013.Complaint alleges that, throughout the Class Period, the company made false and misleading statements and/or concealed material adverse facts regarding the company's business and operations. Full Article
Robbins Geller Rudman & Dowd LLP:Says that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Weight Watchers International, Inc common stock during the period between Feb. 14, 2012 and Oct. 30, 2013.Says complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's financial performance and future prospects and failed to disclose adverse facts. Full Article
Weight Watchers International Inc:Expects FY 2014 earnings guidance of between $1.30 and $1.60 per fully diluted share.FY 2014 EPS of $2.78 - Thomson Reuters I/B/E/S. Full Article
Weight Watchers International Inc:Sees a five-year aspiration to get to $2 bln in revenue by FY 2018. Full Article
Weight Watchers International Inc:Says if the negative recruitment trends in the fourth quarter persist into 2014, this combined with the company lower starting [action] space would result in low double digit revenue decline in fiscal 2014.Fiscal 2014 revenue of $1.563 billion - Thomson Reuters I/B/E/S. Full Article
Weight Watchers International Inc announced that for fourth quarter of 2013, it expects revenues to be down low double digits given continuing negative recruitment trends. The Company raised fiscal 2013 earnings guidance to a range of between $3.85 and $3.95 per fully diluted share as compared to its previously provided range of between $3.55 and $3.70 per fully diluted share. The revised earnings guidance range excludes the one-time, second quarter charge of $0.24 per fully diluted share related to the early extinguishment of debt associated with the Company's April 2013 debt refinancing. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $359 million for fourth quarter of 2013; EPS of $3.63 for fiscal 2013. Full Article
Weight Watchers International Inc announced that it has suspended its quarterly cash dividend. Full Article
Weight Watchers International Inc announced that its Board of Directors declared its quarterly cash dividend of $0.175 per share of common stock, which corresponds to an annual dividend rate of $0.70 per share. This quarterly dividend will be payable on October 11, 2013 to shareholders of record at the close of business on September 27, 2013. Full Article
Weight Watchers International Inc reported in its Form 8-K that on August 1, 2013, Weight Watchers International, Inc. (Company) announced that David Kirchhoff notified the Board of Directors of the Company of his resignation as Chief Executive Officer (CEO) and as a Director of the Company, effective July 30, 2013, in order to pursue other opportunities. Mr. Kirchhoff will remain employed with the Company until August 30, 2013. On August 1, 2013, the Company also announced that, effective July 30, 2013, James R. Chambers, the Company’s President and Chief Operating Officer, has been appointed President and Chief Executive Officer (CEO) and as a Class III director of the Company, succeeding Mr. Kirchhoff. Full Article
NEW YORK - The DASH diet, rich in vegetables, whole grains and low-fat dairy, has been named the best overall diet for the fifth consecutive year, outpacing Weight Watchers and the Mediterranean diet, U.S. News & World Report said on Tuesday.