SAN FRANCISCO--(BUSINESS WIRE)--The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the upcoming deadline to move for appointment as lead plaintiff in securities class litigation brought on behalf of investors who purchased the common stock of MDC Partners, Inc. (“MDC” or the “Company”) (Nasdaq:MDCA) between September 24, 2013 and April 27, 2015, inclusive (the “Class Period”).
If you purchased MDC common stock during the Class Period, you may move the Court for appointment as lead plaintiff by no later than September 29, 2015. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
MDC investors who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
The action alleges that, throughout the Class Period, MDC and certain of its senior executives made materially false and misleading statements and/or failed to disclose that: (i) MDC’s Securities and Exchange Commission (“SEC”) filings materially understated the Company’s executive compensation; (ii) MDC’s financial statements failed to disclose certain related party transactions; (iii) MDC’s reported goodwill was materially overstated; (iv) MDC’s financial statements were presented in violation of GAAP; and (v) MDC’s disclosure controls and internal controls over financial reporting were materially deficient.
On April 27, 2015, MDC revealed that the SEC had been conducting a formal investigation into the Company’s reporting of executive compensation and goodwill. MDC also announced that it had formed a Special Committee of independent directors to review matters relating to the reimbursement of expenses purportedly incurred by defendant Miles Nadal, MDC’s Chairman, Chief Executive Officer, and President during the Class Period. Following this news, the price of MDC common stock fell 27.8%, or $7.78, from a previous closing price of $27.98 per share, to close at $20.20 per share on April 28, 2015.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP is a nationally recognized law firm committed to advancing investor rights and promoting corporate responsibility.
For twelve years, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs’ law firms in the nation. Best Lawyers and U.S. News have also named Lieff Cabraser as a “Law Firm of the Year” each year the publications have given this award to law firms, including in 2015.
For more information about Lieff Cabraser and the firm’s representation of investors, please visit lieffcabraser.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.