Weight Watchers International

DENVER, CO August 5, 2019 – The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of Weight watchers International, Inc. (“Weight Watchers” or the “Company”) (Nasdaq: WW). Weight Watchers provides body weight management services worldwide.

The Firm’s investigation relates to the Company’s February 26, 2019 announcement that its quarterly subscriber count had decreased to 3.9 million subscribers with enrollment continuing to decline during FY2019; its FY2019 revenue target was downgraded to $1.4 billion, much less than the nearly market expectation of $1.7 billion; and EPS had decreased to $1.25-$1.50, significantly lower than market expectations of $3.36. On this news, the price of Weight Watchers’ shares fell from a previous close of $29.57 to close at $19.37 per share –or almost 35 percent – on February 27, 2019. In July of 2018, Weight Watchers stock traded above $100 per share.

Following the disclosure of the Company’s February 2019 financial information, investors filed a purported class action lawsuit against Weight Watchers and certain of its senior executive officers and directors. The lawsuit alleges that these defendants made false and/or misleading statements regarding the Company’s subscriber demand, subscriber growth and competition from smartphone fitness apps, meal-delivery services and other high tech advances.

If you currently own Weight Watchers common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com.


Match Group

DENVER, CO, March 5, 2020 – Shuman Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of Match Group, Inc. (“Match” or the “Company”) (Nasdaq: MTCH). Match provides dating products through various website and mobile applications.

The Firm’s investigation relates to the Federal Trade Commission’s (“FTC”) September 25, 2019 announcement that it is suing Match for its deceptive ads, as well as failing to resolve disputed charges and intentionally complicating its subscription cancellation process.  The Firm is also investigating insider stock sales by officers and directors of Match for nearly $83 million while the FTC investigation was ongoing, but before the investigation was disclosed by the Company. Match is facing a related purported class action lawsuit which alleges that Match and certain of its officers failed to disclose that certain marketing practices relied on deceiving consumers through the use of artificial love interest ads to promote buying or upgrading subscriptions. 

In addition, on December 2, 2019, it was reported that Columbia Journalism Investigations had concluded that dating apps owned by Match, including Tinder and OkCupid, do not screen whether users are sex offenders.  Match’s stock has fallen from an all-time high of over $85 per share on August 19, 2019, and currently trades at approximately $66 per share.  

If you currently own Match common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.


Dycom Industries

DENVER, CO, March 5, 2020 – Shuman Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of Dycom Industries, Inc. (“Dycom” or the “Company”) (NYSE: DY). Dycom provides specialty contracting services throughout the U.S. and Canada.

The Firm’s investigation relates to allegations raised in a class action complaint filed against the Company and certain of its senior officers in the U.S. District Court for the Southern District of Florida. The lawsuit alleges that Dycom and certain of its senior officers violated the federal securities laws by making a series of materially false and misleading statements to shareholders in which they failed to disclose that: (i) Dycom’s new large projects were highly dependent on permitting and tactical considerations, (ii) Dycom was facing great uncertainties related to permitting issues; and (iii) those uncertainties would expose Dycom to near-term margin pressure and absorption issues. According to the lawsuit, on May 22, 2018, during a conference call regarding Dycom’s financial and operating results for the first fiscal quarter ended April 28, 2018, Dycom’s Chairman, President & CEO, Steven E. Nielsen, disclosed that Dycom did not have enough work in hand to absorb the costs it had already incurred associated with its new large projects, mainly because Dycom was facing great uncertainties related to permitting issues. Following this news, the price of Dycom’s common stock declined $23.56, or over 20%, to close at $92.64 per share.  On August 13, 2018, Dycom issued a press release revising its guidance for the second quarter and six months ended July 28, 2018, and announcing preliminary revenues and results for the second quarter below the previous guidance. Following this news, the price of Dycom common stock dropped $21.62 per share, or over 24%, to close at $68.09 per share. Dycom’s share price has continued to fall and currently trades at approximately $32.80 per share.

If you currently own Dycom common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.


Advance Auto Parts

DENVER, CO, March 5, 2020 – Shuman Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of Advance Auto Parts, Inc. (“Advance Auto Parts” or the “Company”) (NYSE: AAP). Advance Auto Parts sells automotive replacement parts and accessories online and in stores across North America.

The Firm’s investigation relates to allegations in a class action lawsuit filed against the Company and certain of its senior officers in the U.S. District Court for the District of Delaware. The lawsuit alleges that the Company’s Securities and Exchange Commission filings were false and/or misleading and/or failed to disclose that (i) integration issues surrounding the Company’s acquisition of Carquest resulted in systemic inefficiencies and cannibalization of sales; and (ii) increased competition was negatively impacting sales. The Company’s senior officers also made positive statements in press releases and earnings calls beginning in 2016 and continuing into 2017. In a recent ruling denying the Company’s motion to dismiss the lawsuit, the federal judge determined that at least some of the Company’s projections “lacked a reasonable basis,” because they ignored internal Company forecasts that actually predicted negative growth for that period.

The lawsuit further alleges that the allegedly false and misleading statements by the Company and senior management led to damages to the Company’s stock price. On May 24, 2017, the Company reported a quarterly decrease in gross profit. On this news, the Company’s share price fell from $140.66 per share to $133.02 per share on May 24, a decline of 5%. On August 15, 2017, the Company disclosed, in part, that “[c]omparable store sales for the quarter were flat.” On this news, the Company’s share price fell from $109.32 per share to $87.08 per share on August 15, a decline of 20%.

If you currently own Advance Auto Parts common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.


Bloom Energy

DENVER, CO, March 5, 2020 – Shuman Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of Bloom Energy Corp. (“Bloom” or the “Company”) (NYSE: BE). Bloom designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation.

The Firm’s investigation relates to a press release issued by the Company on February 12, 2020, wherein Bloom admitted that its previously issued financial statements for 2018, as well as those for the first three quarters of 2019, should no longer be relied on. These errors include material misstatements in the company’s financial statements that were provided to shareholders during the July 25, 2018 initial public offering. Bloom admitted that as a result it: (1) overstated revenues by $165 million to $180 million; (2) expects to report an increase in operating loss in a range of $20 million to $35 million; and, (3) expects to report an increase in net loss in a range of $55 million to $75 million. This news drove the price of Bloom shares traded down more than 21% lower during aftermarket trading on Feb. 12, 2020.

If you currently own Bloom common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip Shuman toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com.


Merit Medical Systems

DENVER, CO, March 5, 2020 – Shuman Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of Merit Medical Systems, Inc. (“Merit” or the “Company”) (Nasdaq: MMSI). Merit manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy.

The Firm’s investigation relates to allegations raised in a class action lawsuit filed against Merit and certain of its senior officers and directors. The complaint alleges that the defendants made false and misleading statements and/or failed to disclose that: (a) the integrations of Cianna and Vascular Insights, including their products, sales people, and R&D facilities, had caused operational disruptions and reduced sales and were months behind schedule; (b) sales of acquired company products had slowed substantially due to pre-acquisition pipeline fill, in particular for Vascular Insights products which, as late as July 2019, had zero orders during fiscal 2019; and (c) in light of the foregoing, the Company’s reported financial guidance for fiscal 2019 and 2020 was made without a reasonable basis.

On July 25, 2019, Merit announced disappointing second quarter 2019 financial results and cut its fiscal 2019 sales and earnings per share outlook. Defendants attributed these reductions to a variety of factors, including “slower than anticipated conversion and uptake of acquired products.” On this news, the Company’s stock price declined more than 25%. On October 30, 2019, the Company announced its third quarter 2019 financial results, reporting adjusted earnings per share well below consensus estimates, and slashed fiscal 2019 revenue and earnings per share guidance by 20% and withdrew any 2020 guidance. Following these disclosures, Merit’s stock price declined more than 29%, to close at $20.66 per share on October 31, 2019. Merit’s stock had traded at more than $62 per share as recently as April 8, 2019.

If you currently own Merit common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip Shuman toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com.


Acadia Healthcare Company

DENVER, CO, February 11, 2020 – Shuman Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (Nasdaq: ACHC). Acadia owns and operates inpatient and outpatient healthcare facilities in the U.S., U.K. and Puerto Rico.

The Firm’s investigation relates to allegations raised in a class action lawsuit filed against Acadia and certain of its senior officers and directors. The lawsuit alleges that beginning on February 23, 2017, Acadia represented in its public filings and press releases that it was “the leading independent provider of mental health services in the U.K” and that “[f]avorable industry and legislative trends” gave the Company a “competitive strength,” which would drive future growth and profitability. The lawsuit also claims that Acadia misrepresented the extent of the Company’s actual and projected 2017 revenue, earnings before interest, taxes, depreciation and amortization (“EBITDA”) and earnings per share (“EPS”). With Acadia’s stock artificially inflated and based upon the above misstatements, its officers and directors allegedly sold over $143 million worth of Acadia stock through a continuous offering process and more than $1 billion in total Acadia stock. On October 24, 2017, Acadia announced its financial results for the third quarter 2017, which revealed a drastic shortfall in EBITDA for its U.K. facilities and a lowered financial guidance for 2017, including EPS. As a result, Acadia’s stock plunged 26% on October 25, 2017, on extremely high volume.

On October 11, 2018, Aurelius Value published a report and released a video documenting purported Acadiasystematic instances of patient abuse and neglect at dozens of Acadia facilities.  On November 16, 2018, Seeking Alpha published an article titled, “Acadia Healthcare: Very Scary Findings From A 14-Month Investigation,” which highlighted severe problems at certain Acadia facilities previously mentioned in the Aurelius Value report.

If you currently own Acadia common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.


ProPetro Holding Corp.

DENVER, CO, February 6, 2020 – Shuman Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of ProPetro Holding Corp. (“ProPetro” or the “Company”) (NYSE: PUMP). ProPetro is an oilfield services company which provides fracking and drilling services throughout North America.

The Firm’s investigation relates to disclosures made by ProPetro on August 8, 2019, wherein the Company admitted that its Audit Committee was performing an ongoing review of, among other things, expense reimbursements and certain transactions involving related parties or potential conflicts of interest. The Company also stated that approximately $370,000 had been improperly reimbursed to members of senior management and that it expected to report a material weakness in its internal controls over disclosure. On this news, the Company’s share price fell $4.59 per share, or over 26%, to close at $12.75 per share on August 9, 2019. Following this news, the Company co-founders, Dale Redman and Jeffrey Smith, lost their titles of principal executive and finance chief, respectively.  Redman and Smith agreed to reimburse the Company for expenses that were billed to ProPetro.

On October 18, 2019, Reuters reported that the SEC was investigating the Company’s financial disclosures. On November 13, 2019, ProPetro disclosed an additional $3.6 million in related party transactions. The Company confirmed the existence of the SEC investigation on November 13, 2019, and additionally disclosed that the Audit Committee review uncovered material financial controls weaknesses and a previously undisclosed related-party transaction with Ian Denholm, ProPetro’s former Chief Accounting Officer.   

If you currently own ProPetro common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.


Health Insurance Innovations

DENVER, CO, January 27, 2020 – Shuman, Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of Health Insurance Innovations, Inc. (“HIIQ” or the “Company”) (Nasdaq: HIIQ). HIIQ operates as a cloud-based technology platform and distributor of individual and family health insurance plans, and supplemental products in the United States.

The Firm’s investigation relates to allegations raised in a class action complaint filed against the Company and certain of its senior officers in the U.S. District Court for the Middle District of Florida. The lawsuit alleges a widespread fraudulent scheme in which agents at the Company’s call centers sold consumers “essentially worthless” health insurance policies in a “classic bait-and-switch” scam. The consumers believed they were purchasing Affordable Care Act (“ACA”) compliant policies but were instead sold limited benefit indemnity plans that were not ACA-compliant. The complaint alleges these individuals were then stuck with thousands of dollars of unpaid medical bills and penalties for not having ACA-compliant insurance. The Federal Trade Commission (“FTC”) eventually shut down the third party which ran HIIQ’s call centers and froze its assets. On November 4, 2019, the federal judge denied HIIQ’s motion to dismiss the class action claims, paving the way for litigation to proceed towards trial.

If you currently own HIIQ common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.


CURO Group Holdings

DENVER, CO, January 24, 2020 – Shuman, Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of CURO Group Holdings, Inc. (“CURO” or the “Company”) (NYSE: CURO). CURO is a consumer finance company focusing on payday loans, single-pay loans and ancillary financial products.

The Firm’s investigation relates to allegations raised in a class action complaint filed against the Company and certain of its senior officers in the U.S. District Court for the District of Kansas. The lawsuit alleges that between July 31, 2018 and October 24, 2018, CURO consistently touted the ongoing success of transitioning its Canadian inventory products from Single-Pay Loans to Open-End Loans and reaffirmed its 2018 full-year financial guidance. Despite these positive assurances of the transition, on October 24, 2018, CURO disclosed disappointing results for the Company’s third quarter, including Canadian revenue that had decreased by $4.4 million, provision for losses that had increased by $8.7 million, and an adjusted EBITDA that decreased by $15.36 million. On this news, CURO’s stock price fell $7.69, or almost 34%, to close at $15.18 per share. The lawsuit further alleges that certain of the Company’s senior officers and directors sold approximately $33 million worth of CURO stock in a May 2018 stock offering at a price of $23.00 per share, just prior to the disclosure of disappointing third quarter results. CURO’s stock trades for approximately $10 per share as of the date of this release. On December 3, 2019, the federal judge denied CURO’s motion to dismiss the claims, paving the way for litigation to proceed towards trial.

If you currently own CURO common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.


Acuity Brands, Inc.

DENVER, CO, January 15, 2020 – Shuman Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of Acuity Brands, Inc. (“Acuity” or the “Company”) (NYSE: AYI). Acuity provides lighting products to commercial and residential customers.

The Firm’s investigation relates to allegations raised in a class action complaint filed against the Company and certain of its senior officers in the U.S. District Court for the Northern District of Georgia. The lawsuit alleges that Acuity and certain of the Company’s senior executive officers violated the federal securities laws by making a series of materially false and misleading statements to shareholders about Acuity’s ability to maintain sales growth rates. The Company’s stock has fallen from a high of more than $275 per share in August of 2016 to approximately $121 per share as of the date of this release. The class action lawsuit further alleges that three of Acuity’s senior executive officers, including its CEO and President, sold approximately $50 million in Company stock prior to disclosing the truth regarding Acuity’s current and future business prospects. On August 12, 2019, the federal judge denied the defendants’ motion to dismiss the class action lawsuit, in part, and is permitting claims against Acuity and certain of its senior officers to proceed towards trial.

If you currently own Acuity common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.