Weber Prevails in Suit Regarding Pandemic Fueled IPO Forecast

In Weber’s process of going public during the pandemic, then returning private after tanking sales, they left some investors unhappy. The proposed class action suit accused Weber of misrepresenting the effects of Covid in their sales projection.

Shareholder Robert Michalski alleged that Weber led investors to believe the extremely high sales volume through the pandemic was sustainable, as opposed to other factors such as pull-forward purchasing.