NEW YORK, Jan. 14, 2019 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in YogaWorks, Inc. ("YogaWorks" or the "Company") (NASDAQ: YOGA ) of the February 25, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in YogaWorks stock or options pursuant and/or traceable to the Company's August 10, 2017 initial public offering ("IPO") and would like to discuss your legal rights, click here: www.faruqilaw.com/YOGA. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased YogaWorks securities pursuant and/or traceable to the Company's August 10, 2017 IPO. The case, Craig Cohen v. YogaWorks, Inc. et al. , No. 18-cv-10696 was filed on December 27, 2018, and has been assigned to Judge Cormac J. Carney.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to adequately disclose: (1) declining studio profitability; (2) the impact of increased corporate overhead; (3) declining financial metrics that would ultimately lead to a substantial impairment charge; and (4) the conditions that led to the Defendants to postpone the initial offering.
Since YogaWorks's IPO, the Company's share price has declined from its IPO price of $5.50 by approximately 92%.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding YogaWorks's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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