NEW YORK, Jan. 30, 2019 /PRNewswire/ -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), a national shareholder and consumer rights litigation firm, reminds investors that a class action lawsuit has been filed against YogaWorks, Inc. ("YogaWorks" or the "Company") (NASDAQ: YOGA) and other defendants, related to alleged violations of federal securities laws. If you purchased YogaWorks securities pursuant and/or traceable to the Company's initial public offering ("IPO") in August 2017, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for more information. The lead plaintiff deadline is February 25, 2019.
YogaWorks purports to be one of the largest and fastest growing providers of high quality yoga instruction in the U.S.
The lawsuit alleges that the offering documents issued pursuant to YogaWorks' IPO made 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.
YogaWorks' August 2017 IPO was priced at $5.50 per share and raised approximately $40.15 million in gross proceeds.
As of the filing of the lawsuit, YogaWorks shares closed at $0.44 per share (on December 27, 2018) – 92% below the IPO price.
What You Can Do
If you purchased YogaWorks securities in or traceable to the Company's IPO, or if you have questions about this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980, or at firstname.lastname@example.org.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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