Thieler Law Corp advises investors with losses exceeding $100,000 of the January 8, 2019 lead plaintiff deadline in a class action lawsuit filed against Welbilt Inc (NYSE: WBT) (“Welbilt” or “the Company”). The suit is pending in the U.S. District Court for the Middle District of Florida and investors, who purchased Welbilt Inc securities between February 24, 2017 through November 2, 2018, have until January 8, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Welbilt Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Welbilt lacked effective internal control over financial reporting; Welbilt was incorrectly recording the tax basis of foreign subsidiaries and the amortization of their intangible assets; and as a result, defendants’ statements about Welbilt’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On November 5, 2018, the Company filed a Form 8-K for its 2018 third quarter, and stated that “During the third quarter of 2018, the Company identified 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.” The Company stated “the consolidated financial statements of the Company as of and for the year ended December 31, 2016 will be restated, and as of and for the years ended December 31, 2015 and 2017 are expected to be revised.”

On this news, NYSE: WBT fell, harming investors.

If you were negatively impacted by your investment in Welbilt Inc securities between February 24, 2017 through November 2, 2018 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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