Securities fraud class action litigation has been filed on behalf of investors in MDC Partners, Inc. (“MDC” or the “Company”) (Nasdaq: MDCA). If you purchased MDC common stock between September 24, 2013 and April 27, 2015, inclusive (the “Class Period”), you may move the court for appointment as lead plaintiff by no later than September 29, 2015.
You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the action. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.
MDC investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You may also call Sharon M. Lee, Esq., at 1-800-541-7358 to learn more about the action and how to seek appointment as lead plaintiff.
Background on the MDC Class Litigation
The action charges MDC and certain of its senior executives with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. MDC, headquartered in New York, New York, is a holding company that provides a range of customized marketing, activation, communications and consulting services through its subsidiaries.
The action alleges that, throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose, among other things, that: (i) MDC’s SEC filings materially understated the Company’s executive compensation; (ii) MDC’s financial statements failed to disclose certain related party transactions; (iii) MDC’s reported goodwill was materially overstated; (iv) MDC’s financial statements were presented in violation of GAAP; and (v) MDC’s disclosure controls and internal controls over financial reporting were materially deficient.
On April 27, 2015, MDC announced its financial results for the period ended March 31, 2015 and revealed that the Securities and Exchange Commission had been conducting a formal investigation into the Company’s reporting of executive compensation and goodwill. MDC also announced that it had formed a Special Committee of independent directors to review matters relating to the reimbursement of expenses purportedly incurred by defendant Miles Nadal, MDC’s Chairman, Chief Executive Officer, and President during the Class Period. Following this news, the price of MDC common stock fell 27.8%, or $7.78 per share, from its closing price of $27.98 per share on April 27, 2015 to close at $20.20 per share on April 28, 2015.
If you purchased or otherwise acquired MDC common stock during the Class Period, you may move the Court for appointment as lead plaintiff by no later than September 29, 2015. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
MDC Partners, Inc. investors who wish to learn more about the action and how to seek appointment as lead plaintiff should use the form below or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.