NEW YORK, Aug. 31, 2023 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Party City Holdco Inc. ("Party City" or the "Company") (OTC Other: PRTYQ) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Party City investors who were adversely affected by alleged securities fraud between November 8, 2022 and June 9, 2023. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/party-city-lawsuit-submission-form?prid=45480&wire=4
PRTYQ investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) the Company affirmatively misrepresented that its capital resources "will be adequate to meet our liquidity needs for at least the next 12 months"; (ii) omitted that there was substantial doubt about the Company's ability to continue as a going concern; (iii) downplayed the nature and extent of the Company's then-existing liquidity problems; (iv) omitted that the Company's existing credit facilities were insufficient to satisfy its operational needs and that it was unable to obtain additional loans in the normal course of business; and (v) omitted that there was a material weakness in its internal control over financial reporting.
WHAT'S NEXT? If you suffered a loss in Party City during the relevant time frame, you have until October 2, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 4th Floor Suite #427
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-levi--korsinsky-notifies-party-city-holdco-incprtyq-investors-of-a-class-action-lawsuit-and-upcoming-deadline-301914353.html
SOURCE Levi & Korsinsky, LLP
