WAYNE, Pa., Aug. 4, 2015 /PRNewswire/ -- Ryan & Maniskas,
LLP announces that a class action lawsuit has been filed in the
United States District Court for the Southern District of
New York on behalf of purchasers
of common stock of MDC Partners Inc. ("MDC" or the "Company")
(NASDAQ: MDCA) between September 24,
2013 and April 27, 2015,
inclusive (the "Class Period").
MDC shareholders may, no later than September 29, 2015, move the Court for
appointment as a lead plaintiff of the Class. If you
purchased shares of MDC and would like to learn more about these
claims or if you wish to discuss these matters and have any
questions concerning this announcement or your rights, contact
Richard A. Maniskas, Esquire
toll-free at (877) 316-3218 or to sign up online, visit:
www.rmclasslaw.com/cases/mdca.
The complaint charges MDC and certain of its officers and
directors with violations of the Securities Exchange Act of
1934. MDC is a holding company that provides a comprehensive
range of customized marketing, activation, communications and
consulting services via its subsidiaries.
The complaint 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, thus
causing the Company's common stock to be overvalued and
artificially inflated. As a result, MDC common stock traded
at artificially inflated prices and the investing public suffered
damages.
On April 27, 2015, after the close
of trading, MDC issued a press release announcing its financial
results for the period ended March
31, 2015. The press release also reported that the
Securities and Exchange Commission had been conducting a formal
investigation into the Company's reporting of executive
compensation and goodwill. In response to these revelations,
the price of MDC common stock, which traded near the Class Period
high of $28.65 per share on the last
day of the Class Period, plummeted 27.8%, or $7.78 per share, from $27.98 per share on April
27, 2015 to close at $20.20
per share on April 28, 2015.
If you are a member of the class, you may, no later than
September 29, 2015, request that the
Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. In order to be
appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the class.
Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain Ryan &
Maniskas, LLP or other counsel of your choice, to serve as your
counsel in this action.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide. To learn more
about the class action process, please visit:
www.rmclasslaw.com.
CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old
Eagle School Rd., Suite 311
Wayne, PA
19087
484-588-5516
877-316-3218
www.rmclasslaw.com/cases/mdca
rmaniskas@rmclasslaw.com
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SOURCE Ryan & Maniskas, LLP