Hagens Berman Alerts LPL Financial Holdings, Inc. (NASDAQ:LPLA) Investors of May 23, 2016 Lead Plaintiff Deadline in Securities Class Action

SAN FRANCISCO, April 08, 2016 -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, alerts LPL Financial Holdings, Inc. (NASDAQ:LPLA) investors of the May 23, 2016 lead plaintiff deadline in the securities class action lawsuit related to the Company’s materially false and misleading statements about LPL’s business and prospects.

If you suffered significant losses because of your purchases of LPL between December 8, 2015 and February 11, 2016 or have information that will help our investigation contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation by calling 510-725-3000, emailing [email protected] or visiting https://www.hbsslaw.com/cases/LPLA.  The lawsuit was filed in the U.S. District Court for the Southern District of California and investors have until May 23, 2016 to move the court to participate as a lead plaintiff.

The class action complaint alleges that during an analyst conference on December 8, 2015, the Company’s Chairman/CEO and CFO made false and misleading statements regarding LPL’s business, prospects, and financial results.  Defendants allegedly made false and misleading statements such as:  (a) LPL had an “earnings stream that is quite steady” and the Company had been “executing it well”; (b) LPL was in the midst of a “recovery” and experienced a “nice rebound” in client assets; and, (c) gross profits would likely decline only “slightly on a sequential basis”. 

On February 11, 2016, LPL announced its fourth quarter and full year 2015 financial results.  Its reported earnings per share of just $0.37 was 27% below consensus analyst estimates.  In response to this news, the price of LPL common stock dropped $8.76 per share to close at $16.50 per share on February 12, 2016, a one-day decline of 35%.

Whistleblowers: Persons with non-public information regarding Amaya, Inc. should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].

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Contact:
Reed Kathrein, 510-725-3000