NEW ORLEANS, Jan 11, 2019 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until February 11, 2019 to file lead plaintiff applications in a securities class action lawsuit against Welbilt, Inc. (NYSE: WBT), if they purchased the Company's shares between February 24, 2017 and November 2, 2018, inclusive (the "Class Period"). This action is pending in the United States District Court for the Middle District of Florida.
Welbilt investors should visit us at https://www.claimsfiler.com/cases/view-welbilt-inc-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Welbilt and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 5, 2018, the Company disclosed a restatement to its YE December 31, 2016 financial statements and likely revision to its December 31, 2015 and 2017 statements due to "errors in the tax basis of a foreign subsidiary and incorrect amortization of the intangible assets held by the same entity…In addition, the Company discovered certain intercompany transactions 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.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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