We are investigating Wanda Sports Group Company Ltd (WSG) (“Wanda Sports” or the “Company”) for potential violations of the federal securities laws.
On or around July 25, 2019, Wanda Sports completed its initial public offering (the “IPO” or “Offering”), issuing approximately 23.8 million American Depositary Shares (“ADSs”) priced at $8.00 per share. Then, on September 9, 2019, Wanda Sports reported its financial results for the second quarter of 2019. The Company advised investors that total revenue had decreased 30% year-over-year, which Wanda Sports attributed “primarily . . . to decreased revenue from the Digital, Production, Sports Solutions (DPSS) segment.” Wanda Sports also provided full year 2019 revenue guidance “in the range of €1,008 million to €1,070 million, or down 11% to 5% from 2018.” Since the IPO, Wanda’s ADSs have closed as low as $2.78 per share, representing a decline of 65.25% from the Offering price.