Wanda Sports Group Company Limited Securities Litigation

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Lawsuit Overview

Defendant:Wanda Sports Group Company Limited
Date Filed:November 18th, 2019
Sector:Consumer Services
Industry:Services-Misc. Amusement & Recreation
Class Start Date:July 26th, 2019
Class End Date:November 18th, 2019

According to the Complaint, Wanda Sports purports to be a global sports events, media and marketing platform
with significant intellectual property rights.

In July 2019, Defendants held an IPO, issuing approximately 23.8 million American Depository Shares to the investing public at $8.00 per share, pursuant to the Registration Statement. The Complaint alleges that the Registration Statement featured false and/or misleading statements and/or failed to disclose that: (1) the lack of major sporting events for its Digital, Production, Sports Solutions (“DPSS”) and Spectator Sports segments for its second quarter of 2019, ending before the IPO, would negatively impact revenue for the second quarter of 2019; (2) Wanda Sports had suffered a year-over-year decrease in revenue in its second quarter ended June 30, 2019 and would for its fiscal year 2019, primarily related to lower reimbursement revenues accounted for in its DPSS segment and lack of Spectator Sport segment offsets; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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Reference Complaint

Cherry Fu, et al. v. Wanda Sports Group Company Limited, et al.

Date Filed:November 18th, 2019
Class Period Start:July 26th, 2019
Class Period End:November 18th, 2019
Reference Complaint Filings
#Document TitleFiling Date