A lawsuit was filed on behalf of investors in Party City Holdco Inc (NYSE:PRTY) shares over alleged securities laws violations and NYSE:PRTY investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/12/2016 -- A shareholder in shares of Party City Holdco Inc (NYSE:PRTY), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Party City Holdco Inc in connection with Party CityHoldco Inc's April 16, 2015 initial public offering ("IPO").
Investors who purchased shares of Party City Holdco Inc (NYSE:PRTY) have certain options and for certain investors are short and strict deadlines running. Deadline: January 19, 2016. NYSE:PRTY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
According to the complaint the plaintiff alleges that the defendants violated Federal Securities Laws in connection with Party CityHoldco Inc's April 16, 2015 IPO. More specifically, the plaintiff claims that Defendants allegedly failed to disclose certain risks in the Registration Statement and Prospectus, including the impact on Party City due to soft consumer traffic trends, due to the extraordinary performance of the Disney Frozen franchise from the prior year, and due to the store reset initiative.
On April 16, 2015, Party City Holdco Inc stock opened for trading at $20.50, the day the Company sold 21.9 million shares of stock in its initial public stock offering (the "IPO"), reaching a high of $20.84 per share that day.
On November 12, 2015, Party City Holdco Inc reported a loss of $44.5 million in its third quarter. Party City Chief Executive Officer James M. Harrison described Party City Holdco's retail results as "weaker than expected." Shares of Party City Holdco Inc (NYSE:PRTY) declined on November 13, 2015 to as low as $11.20 per share.
On January 8, 2016, NYSE:PRTY shares closed at $12.01 per share.
Those who purchased shares of Party City Holdco Inc (NYSE:PRTY) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com