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 Announced by Shareholders Foundation - EconoTimes)
SAN DIEGO, Dec. 01, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in New York on behalf of certain purchasers of shares of Party City Holdco Inc (NYSE:PRTY) over alleged Securities Laws Violations by Party City Holdco Inc.
Investors who purchased shares of Party City Holdco Inc (NYSE:PRTY) have certain options and for certain investors are short and strict deadlines running. Deadline: January 19, 2016. (NYSE:PRTY) investors should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
The plaintiff claims that the defendants violated Federal Securities Laws in connection with Party City Holdco Inc’s April 16, 2015 IPO. More specifically, the plaintiff claims that Defendants allegedly failed to disclose certain risks in the Registration Statement and Prospectus, including the impact on Party City due to soft consumer traffic trends, due to the extraordinary performance of the Disney Frozen franchise from the prior year, and due to the store reset initiative.
On April 16, 2015, Party City Holdco Inc stock opened for trading at $20.50, the day the Company sold 21.9 million shares of stock in its initial public stock offering (the “IPO”), reaching a high of $20.84 per share that day.
On November 12, 2015, Party City Holdco Inc reported a loss of $44.5 million in its third quarter. Party City Chief Executive Officer James M. Harrison described Party City Holdco’s retail results as "weaker than expected."
Shares of Party City Holdco Inc (NYSE:PRTY) declined on November 18, 2015 to as low as $10.95 per share.
Those who purchased Party City Holdco Inc (NYSE:PRTY) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at [email protected] or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
