Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind investors that they
have until September 29, 2015 to file lead plaintiff applications
in a securities class action lawsuit against MDC Partners Inc.
(NasdaqGS: MDCA) if they purchased the Company’s securities between
September 24, 2013 and April 27, 2015, inclusive (the “Class Period”).
This action is pending in the United States District Court for the
Southern District of New York.
What You May Do
If you purchased shares of MDC and would like to discuss your legal
rights and how this case might affect you and your right to recover for
your economic loss, you may, without obligation or cost to you, call
toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com).
If you wish to serve as a lead plaintiff in this class action, you must
petition the Court by September 29, 2015.
About the Lawsuit
MDC and certain of its executives are charged with failing to disclose
material information during the Class Period, violating federal
securities laws.
On April 27, 2015, MDC disclosed that in October 2014 it had received a
subpoena from the Securities and Exchange Commission and was “actively
cooperating” with the SEC, which was investigating the Company related
to expenses incurred by its CEO Miles Nadal, as well as accounting,
goodwill and trading of the company’s stock by third parties. MDC stated
that it formed a special committee to investigate the accusations with
particular emphasis on perquisites and payments made to Nadal between
2009 and 2014 and that, as a result, Nadal agreed to reimburse the
company for $8.6 million related to certain incomplete expenses.
On this news, the price of MDC’s shares plummeted by 28%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana
Attorney General, Charles C. Foti, Jr., and other lawyers with
significant experience litigating complex securities class actions
nationwide on behalf of both institutional and individual shareholders,
you may visit www.ksfcounsel.com.
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