WideOpenWest, Inc. (WOW) Accused of Misrepresenting Its Prospects in its Offering Documents

According to the filed class action complaint against the company's officers and directors for alleged violations of the Securities Act of 1933 relating to the company's initial public offering ("IPO") in May 2017, in May 2017, WideOpenWest, Inc. (WOW) conducted its IPO, offering 20,970,589 shares priced at $17.00 per share, raising $356 million in gross proceeds. However, the company failed to disclose in its offering documents that WideOpenWest was losing customers and would be forced to invest additional funds to curtail the loses. On March 14, 2018, the company issued disappointing financial results, announcing a full year decline in total revenue of approximately 4%, and revealing that WideOpenWest had "not lived up to long-held reputation of providing exceptional customer experiences." In response to these and other disclosures, WideOpenWest's stock plunged more than 23% on March 15, 2018, to close nearly 59% below the IPO price.

WideOpenWest, Inc. (WOW) Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can please send us a message via the Shareholder Information form below.