Company Website:
http://www.rosenlegal.com/cases-595.html
NEW YORK -- (Business Wire)
The Rosen Law Firm, a global investor rights firm, announces that a
class action lawsuit has been filed on behalf of purchasers of MDC
Partners Inc. (NASDAQ: MDCA) securities during the period from September
24, 2013 through April 27, 2015 inclusive (the “Class Period”). The
lawsuit seeks to recover damages for MDC Partners Inc. investors under
the federal securities laws.
To join the MDC Partners Inc. class action, go to the firm’s website at http://www.rosenlegal.com/cases-595.html
or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653
or email pkim@rosenlegal.com or kchan@rosenlegal.com
for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU
MAY RETAIN COUNSEL OF YOUR CHOICE.
The lawsuit alleges that during the Class Period, defendants made or
caused to be made a series of materially false or misleading statements
about MDC’s business, executive compensation, related-party
transactions, goodwill, prospects and operations. These material
misstatements and omissions had the cause and effect of creating in the
market an unrealistically positive assessment of MDC and its business,
prospects and operations, hence causing the Company’s common stock to be
overvalued and artificially inflated. Consequently, MDC common stock
traded at artificially elevated prices and shareholders sustained
damages.
On April 27, 2015, the Company announced in a press release its
financial results for the first quarter ended March 31, 2105. The
Company also announced that: (1) since October 5, 2014, the Company has
been actively cooperating with an SEC investigation relating to the
reimbursement of expenses incurred by the CEO, Miles Nadal; (2) Mr.
Nadal agreed to reimburse the Company $8.6 million which the Company had
sought for reimbursement; (3) during the quarter ended March 31, 2015,
the Company incurred approximately $5.8 million in legal fees and other
related expenses relating to the SEC inquiry; and (4) the Company
reassigned its CFO, Michael Sabatino, to a new role in the Company. On
this news, shares of MDC Partners fell $9.09 per share to close at
$18.89 on April 28, 2015.
A class action lawsuit has already been filed. If you wish to serve as
lead plaintiff, you must move the Court no later than September 29,
2015. A lead plaintiff is a representative party acting on behalf of
other class members in directing the litigation. If you wish to join the
class action and recover your losses, go to the firm’s website at http://www.rosenlegal.com/cases-595.html
or to discuss your rights or interests regarding this class action,
please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law
Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com
or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and shareholder
derivative litigation.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150731005894/en/
Contacts:
The Rosen Law Firm, P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin
Chan, Esq.
275 Madison Avenue, 34th Floor
New York,
NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax:
(212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com
Source: The Rosen Law Firm
© 2024 Canjex Publishing Ltd. All rights reserved.