LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased LPL Financial Holdings Inc. (“LPL” or the “Company”) (NASDAQ: LPLA) securities between December 8, 2015 and February 11, 2016, inclusive (the “Class Period”). LPL investors have until May 23, 2016 to file a lead plaintiff motion.
Investors who have suffered losses on their LPL investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
The complaint alleges that, throughout the Class Period, LPL issued false and misleading statements and/or failed to disclose adverse information regarding the Company’s business and prospects to investors. Specifically, the complaint alleges that: (1) LPL’s earnings and revenue were not steady, but were substantially declining; (2) LPL’s client assets were not in the midst of a recovery, but were actually deteriorating and would decline by billions of dollars; (3) LPL’s gross profits would not decline “slightly”, as indicated, but significantly; (4) LPL would in fact experience its worst sequential gross profit decline in four years; and (5) as a result of the aforementioned, LPL common stock would trade at artificially inflated prices during the Class Period.
If you purchased shares of LPL during the Class Period you may move the Court no later than May 23, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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