An investigation for investors in WideOpenWest, Inc. (NYSE: WOW) shares over potential securities laws violations by WideOpenWest, Inc. was announced
San Diego, CA -- (SBWIRE) -- 07/11/2018 -- An investigation was announced for investors of WideOpenWest, Inc. (NYSE: WOW) shares over potential securities laws violations by WideOpenWest, Inc. in connection with certain financial statements.
Investors who purchased shares of WideOpenWest, Inc. (NYSE: WOW), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by WideOpenWest, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Englewood, CO based WideOpenWest, Inc. operates as a cable operator in the United States.
Between May 25, 2017, and May 31, 2017, WideOpenWest, Inc 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, Inc 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%. WideOpenWest, Inc. reported that its annual Total Revenue declined from over $1.23 billion in 2016 to over $1.18 billion in 2017 and that its Net Income increased from $26.3 million in 2016 to $159.50 million in 2017.
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.
Shares of WideOpenWest, Inc. (NYSE: WOW) declined to as low as $6.02 per share in late April 2018.
Those who purchased shares of WideOpenWest, Inc. (NYSE: WOW) have certain options and should contact the Shareholders Foundation.
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