SAN DIEGO, Sept. 23, 2015 (GLOBE NEWSWIRE) -- 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
