WELBILT 72 HOUR DEADLINE ALERT: Approximately 72 Hours Remain; Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors with Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against Welbilt, Inc. - WBT
NEW ORLEANS--(BUSINESS WIRE)--Feb 8, 2019--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with large financial interests that they have only until February 11, 2019 to file lead plaintiff applications in a securities class action lawsuit against Welbilt, Inc. (NYSE: WBT). Investor losses must relate to purchases of the Company’s shares between February 24, 2017 and November 2, 2018. This action is pending in the United States District Court for the Middle District of Florida.
What You May Do
If you purchased shares of Welbilt and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ( firstname.lastname@example.org ), or visit https://www.ksfcounsel.com/cases/nyse-wbt/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by February 11, 2019.
About the Lawsuit
On November 5, 2018, Welbilt disclosed a restatement to its YE December 31, 2016 financial statements and likely revision to its December 31, 2015 and 2017 statements citing “errors in the tax basis of a foreign subsidiary and incorrect amortization of the intangible assets held by the same entity” and “certain intercompany transactions [that] were not recorded on a timely basis.” On this news, the price of Welbilt’s shares plummeted.
The case is Schlimm v. Welbilt, Inc et al, 18-cv-3007.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190208005471/en/
CONTACT: Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA LOUISIANA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Kahn Swick & Foti, LLC
Copyright Business Wire 2019.
PUB: 02/08/2019 10:50 PM/DISC: 02/08/2019 10:50 PM