NEW YORK, Aug. 05, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action has been filed against MDC Partners Inc. (NASDAQ:MDCA) in the United States District Court for the Southern District of New York. Purchasers of the securities of MDC Partners Inc. between September 24, 2013 and April 27, 2015 on an American exchange, inclusive, are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774.
If you purchased MDC securities during the Class Period, you may, no later than September 29, 2015, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of all class members in directing the litigation.
On April 27, 2015, after the market closed, MDC Partners announced its financial results for the first quarter ended March 31, 2015. The Company also disclosed that in October 2014, it had received a US Securities and Exchange Commission (“SEC”) subpoena requesting production of documents relating to the reimbursement of $8.6 million of expenses to the Company by its CEO, Miles Nadal, in connection with certain payments made by the Company to or on behalf of Mr. Nadal and Nadal Management Limited from 2009 through 2014. The subpoena also requested production of documents relating to the Company's goodwill and certain other accounting practices. In addition, the Company reassigned its Chief Accounting Officer to a new role in the Company.
On this news, MDC Partners common stock plummeted $7.78 per share or approximately 28%, to close at $20.20 per share on April 28, 2015.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “MDC Partners Investigation.”
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org Tel: (800) 575-0735 or (212) 545-4774
Source:Wolf Haldenstein Adler Freeman & Herz LLP