Deadline in Lawsuit for Investors in MDC Partners Inc (NASDAQ:MDCA) Shares Announced by Shareholders Foundation
September 23 2015 - 10:45AM
The Shareholders Foundation, Inc. announces that a lawsuit was
filed on behalf of certain investors who purchased of shares of MDC
Partners Inc (NASDAQ:MDCA) over alleged Securities Laws Violations
by MDC Partners.
Investors who purchased shares of MDC Partners Inc (NASDAQ:MDCA)
have certain options and for certain investors are short and strict
deadlines running. Deadline: September 29, 2015. (NASDAQ:MDCA)
investors should contact the Shareholders Foundation at
mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that between September 24, 2013 and April
27, 2015 defendants allegedly made or caused to be made a series of
materially false or misleading statements about MDC Partners'
business, executive compensation, related-party transactions,
goodwill, prospects and operations and that these material
misstatements and omissions had the cause and effect of creating in
the market an unrealistically positive assessment of MDC Partners
and its business, prospects and operations, thus causing the
Company's common stock to be overvalued and artificially inflated,
and that as a result, MDC Partners, Inc common stock traded at
artificially inflated prices and the investing public suffered
damages.
On April 27, 2015, MDC Partners Inc reported its results for the
first quarter 2015. Among other things, MDC Partners Inc said that
since October 5, 2014, it has been actively cooperating with the
production of documents for review by the Securities and Exchange
Commission (the “SEC”) pursuant to a Subpoena and that in
connection with this production of documents, MDC Partners Inc
formed a Special Committee of independent directors to review
certain matters relating to the reimbursement of expenses incurred
by the CEO. MDC Partners Inc further stated that following
the review, Mr. Nadal agreed to reimburse the Company for
perquisites and payments for which the Company sought
reimbursement, in the aggregate amount of $8.6 million.
Additionally MDC Partners Inc said that the Subpoena received from
the SEC also requested production of documents relating to the
Company’s goodwill and certain other accounting practices, as well
as information relating to trading in the Company’s securities by
third parties.
Those who purchased (NASDAQ:MDCA) shares have certain options
and should contact the Shareholders Foundation, Inc. by e-mail at
mail@shareholdersfoundation.com 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.
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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