SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of WideOpenWest, Inc. (WOW)
NEW YORK, July 2, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of WideOpenWest, Inc. ("WideOpenWest" or the "Company") (NYSE: WOW). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/wow.
The investigation concerns whether WideOpenWest and certain of its officers and/or directors have violated federal securities laws.
Between May 25, 2017 and May 31, 2017, WideOpenWest conducted its initial public offering ("IPO") of 20,970,589 shares of stock priced at $17.00, raising proceeds of approximately $337.8 million. On March 14, 2018, WideOpenWest announced its financial and operating results for the fourth quarter and fiscal year 2017, reporting a full year decline in total revenue of approximately 4%. On an earnings call discussing the results, WideOpenWest's Chief Executive Officer Teresa Elder stated that the Company has "not lived up to [its] long-held reputation of providing exceptional customer experiences," and that WideOpenWest's failures would necessitate "investments of between $20 million and $25 million . . . in customer experience, customer acquisition and retention, products and services and, of course, [its] people." In addition, WideOpenWest announced that it was required to record a $147.4 million impairment to indefinite-lived intangible assets and goodwill, which the Company stated was primarily driven by WideOpenWest's stock price decline. Following these disclosures, WideOpenWest's stock price fell $2.14, or 23.31%, to close at $7.04 on March 15, 2018.
If you are aware of any facts relating to this investigation, or purchased WideOpenWest shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/wow. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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