Company: YogaWorks, Inc.
Class Period: August 16, 2017 —
Court: U.S.D.C. – Central District of California
Deadline: February 25, 2019
Kaskela Law LLC announces that a class action lawsuit has been filed against YogaWorks, Inc. (“YogaWorks” or the “Company”) (NASDAQ: YOGA) on behalf of investors who purchased or acquired YogaWorks’ common stock pursuant and/or traceable to the Company’s August 2017 initial public offering (“IPO”) of stock.
On or about August 16, 2017, YogaWorks completed its IPO of common stock, selling 7.3 million shares of stock to investors at $5.50 per share. According to the complaint, YogaWorks’ IPO materials contained materially misleading statements regarding: (1) YogaWorks’ studio-level economics and the adverse trends it faced in declining studio profitability; (2) reasons for YogaWorks’ declining revenue, including increasing corporate overhead costs; and (3) YogaWorks’ increasing corporate infrastructure costs and inability to achieve economies of scale.
Since the time of the Company’s IPO, shares of YogaWorks’ common stock have declined over 85% in value, and currently trade below $0.75 per share.
IMPORTANT DEADLINE: Investors who purchased YogaWorks’s common stock on or after August 16, 2017 may, no later than February 25, 2019, seek to be appointed as a lead plaintiff representative of the class.
YogaWorks investors who purchased the Company’s common stock on or after August 16, 2017 and suffered a financial loss in excess of $50,000 are encouraged to contact Kaskela Law LLC at (888) 715 – 1740 to discuss their legal rights and options, or complete the information form on this page.