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Lawsuit filed for Investors in shares of Wanda Sports Group Company Limited (NASDAQ: WSG)

01-13-2020 04:27 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Wanda Sports Group Company Limited (NASDAQ: WSG) shares.

A lawsuit was filed on behalf of investors in Wanda Sports Group Company Limited (NASDAQ: WSG) shares.

The Shareholders Foundation announced that an investor, who purchased shares of Wanda Sports Group Company Limited (NASDAQ: WSG), filed a over alleged violations of Federal Securities Laws by Wanda Sports Group Company Limited in connection with the July 2019 initial public stock offering (the “IPO”).

Investors who purchased shares of Wanda Sports Group Company Limited (NASDAQ: WSG) have certain options and for certain investors are short and strict deadlines running. Deadline: January 17, 2020. NASDAQ: WSG investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

China based Wanda Sports Group Company Limited operates as a sports events, media, and marketing platform worldwide. Wanda Sports Group Company Limited (NASDAQ: WSG) went public in July 2019 and sold 23.8 million ADS at $8 per share. Wanda Sports Group Company Limited (NASDAQ: WSG) raised $190.4 million in its initial public offering.

However, since the IPO, shares of Wanda Sports Group Company Limited (NASDAQ: WSG) declined to as low as $3.85 per share on October 2, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Wanda Sports Group Company Limited (NASDAQ: WSG) common shares, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the Registration Statement that was filed in connection with the July 2019 IPO allegedly featured false and/or misleading statements and/or failed to disclose that 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 IPO, would negatively impact revenue for the second quarter of 2019, that Wanda Sports Group Company Limited 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 that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Wanda Sports Group Company Limited (NASDAQ: WSG) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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