Press release
Investigation announced for Investors in European Wax Center, Inc. (NASDAQ: EWCZ) shares over possible Violations of Securities Laws
An investigation for investors in European Wax Center, Inc. (NASDAQ: EWCZ) shares over potential securities laws violations.
Investors who purchased shares of European Wax Center, Inc. (NASDAQ: EWCZ), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of European Wax Center, Inc. (NASDAQ: EWCZ) concerning whether a series of statements by European Wax Center, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Plano, TX based European Wax Center, Inc. operates as the franchisor and operator of out-of-home waxing services in the United States. European Wax Center, Inc. reported that its annual Total Revenue rsoe from $207.35 million in 2022 to $221.02 million in 2023, and that its Net Income rose from $7.27 million in 2022 to $8.93 million in 2023.
On August 14, 2024, European Wax Center, Inc announced its financial results for the second quarter of the fiscal year. Among other matters, European Wax Center, Inc revised its revenue forecast for 2024 to a range of $216 million to $221 million, in contrast to the previous guidance of $225 million to $232 million. Additionally, the company adjusted its net income forecast to a range of $19 million to $22 million, down from the prior guidance of $22 million to $25 million. Furthermore, the Company announced that its Board of Directors has appointed David Berg as Chief Executive Officer (CEO), effective August 12, 2024. Mr. Berg succeeds David Willis, who previously served as CEO.
Shares of European Wax Center, Inc. (NASDAQ: EWCZ) declined from $18.38 per share on September 15, 2023, to as low as $4.80 per share on August 15, 2024.
Those who purchased shares of European Wax Center, Inc. (NASDAQ: EWCZ) have certain options and should contact the Shareholders Foundation.
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 lawsuits, 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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