LOS ANGELES, Sept. 16, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come September 27, 2022 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors, Weber Inc. (“Weber” or the “Company”) (NYSE: WEBR) Class A Common Stock pursuant to and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s public offering in August 2021 (“IPO” or the “Offering”).

If you have suffered a loss on your Weber investments or would like to inquire about potential claims to recover your loss under the federal securities laws, you may submit your contact information at www.glancylaw.com/cases/weber-inc/. You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at [email protected] to learn more about your rights.

On or about August 6, 2021, the Company completed its IPO and sold approximately 17,857,143 Class A common shares at a price of $14.00 per share.

On July 25, 2022, prior to market open, Weber reported its preliminary financial results for the third quarter of 2022, including net sales of between $525 million and $530 million. Expecting a net loss, the company noted that “[p]Profitability was negatively impacted by “several factors, including “promotional activities to improve retail sales.” Additionally, Weber announced that Chris Scherzinger was “leaving” his roles as the company’s chief executive officer and director.

As a result of this news, the company’s share price fell $1.21 per share, or 16%, due to unusually high trading volume, to close at $6.30 per share on July 25, 2022.

At the start of this move, the company’s stock was trading at $6.25 per share, down nearly 55% from its IPO price of $14 per share.

The complaint filed here…