BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming May 23, 2016 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “Class”) 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”). Mentor investors have until May 23, 2016 to file a lead plaintiff motion.
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 LPL shares, you may move the Court no later than May 23, 2016 to request appointment as lead plaintiff. 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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