Scott+Scott,
Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and
consumer rights litigation firm, announces the commencement of an
investigation into Party City Holdco Inc. (NYSE:PRTY) (“Party City”)
related to potential violations of federal securities laws. If you are a
Party City shareholder, you are encouraged to contact Scott+Scott for
additional information.
Party City designs, manufactures, sources, and distributes party goods
in North America. Party City offers paper and plastic tableware,
metallic and latex balloons, Halloween and other costumes, accessories,
novelties, gifts, and stationery. As of August 13, 2015, Party City
operated approximately 900 specialty retail party supply stores,
including approximately 200 franchise stores in the United States and
Canada under the Party City and Halloween City names.
On April 16, 2015, Party City conducted an Initial Public Offering of
21.875 million shares of common stock at $17 per share.
On November 12, 2015, Party City reported a loss of $44.5 million in its
third quarter. According to The
Wall Street Journal, Party City “reported weak revenue growth
for its third quarter, weighed down by soft traffic, and the company
lowered a key sales forecast for the year.” Party City Chief Executive
Officer James M. Harrison described the retail results as “weaker than
expected.” On this news, shares of Party City have fallen as low as 23%
to $11.33 on heavy volume on November 13, 2015.
What You Can Do
If you are a Party City shareholder and you wish to discuss this
investigation, or have questions about this notice or your legal rights,
please contact attorney Joseph V. Halloran at (800) 404-7770 or (646)
582-0121 or at jhalloran@scott-scott.com.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities,
antitrust, and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals, and
other entities worldwide.
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