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A service for business professionals · Wednesday, January 16, 2019 · 473,755,183 Articles · 3+ Million Readers

WELBILT SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Welbilt, Inc. - WBT

NEW ORLEANS, Dec. 14, 2018 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind 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.

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 (lewis.kahn@ksfcounsel.com), 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, you must petition the Court by February 11, 2019.

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.

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.

/EIN News/ -- Contact:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163

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