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NEW YORK, Dec. 01, 2015 (GLOBE NEWSWIRE) -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased Party City Holdco Inc. (NYSE:PRTY) securities pursuant and/or traceable to the April 16, 2014 Initial Public Offering.
Click here to learn about the case: http://docs.wongesq.com/PRTY-Info-Request-Form-1016. There is no cost or obligation to you.
The complaint alleges that the Company failed to disclose certain risks in the Registration Statement and Prospectus associated with the IPO, including the impact on Party City due to: (1) soft consumer traffic trends; (2) the extraordinary performance of the Disney Frozen franchise from the prior year; and (3) the store reset initiative. When the truth was revealed, shares dropped causing harm to investors.
During an August 13, 2015 conference call, CEO James M. Harrison referenced the demand for Disney Frozen licensed product line and anticipated disruptions from store remerchandising. Then a November 12, 2015 Company press release explained, among other things, how the Disney Frozen product-line had created an anomaly in the Company’s business. Upon this news, the value of Party City shares declined significantly.
If you suffered a loss in Party City you have until January 19, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email [email protected], by telephone at 212.425.1140, or visit http://docs.wongesq.com/PRTY-Info-Request-Form-1016.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Vincent Wong, Esq. 39 East Broadway Suite 304 New York, NY 10002 Tel. 212.425.1140 Fax. 866.699.3880 E-Mail: [email protected]
