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NEW YORK, Dec. 09, 2015 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Party City Holdco Inc. (“Party City”) (NYSE:PRTY) pursuant and/or traceable to the April 16, 2015 Initial Public Offering.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. To get more information go to:
http://zlk.9nl.com/party-city-holdco-prty
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that the Company failed to disclose certain risks in the Registration Statement and Prospectus associated with the IPO, including the impact on Party City due to: (1) soft consumer traffic trends; (2) the extraordinary performance of the Disney Frozen franchise from the prior year; and (3) the store reset initiative. When the truth was revealed, shares dropped causing harm to investors.
During an August 13, 2015 conference call, CEO James M. Harrison referenced the demand for Disney Frozen licensed product line and anticipated disruptions from store remerchandising. Then a November 12, 2015 Company press release explained, among other things, how the Disney Frozen product-line had created an anomaly in the Company’s business. Upon this news, the value of Party City shares declined significantly.
If you suffered a loss in Party City you have until January 19, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
