The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Weber Inc. (NYSE: WEBR) who purchased Weber Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s August 2021 initial public offering. The action, which was filed in the United States District Court for the Northern District of Illinois, alleges that the Company violated federal securities laws.
In particular, the Weber lawsuit alleges that (1) WEBR was reasonably likely to implement price increases; (2) as a result, consumer demand for WEBR’s products was reasonably likely to decrease; (3) due to the resulting inventory buildup, WEBR was reasonably likely to run promotions to “enhance retail sell through”; (4) the foregoing would adversely impact WEBR’s financial results; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Shareholders have until September 27, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.