NEW YORK, Aug. 3, 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 MDC Partners Inc. ("MDC") (NASDAQ:MDCA) between September 24, 2013 and April 27, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. If you purchased or otherwise acquired MDC securities between September 24, 2013 and April 27, 2015, inclusive, your rights may be affected by this action. To get more information go to:
http://zlk.9nl.com/mdc-partners-mdca
or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
According to the complaint, throughout the Class Period defendants issues materially false and misleading statements and/or failed to disclose material information. On April 27, 2015 the Company announced its financial results for the first quarter ended March 31, 2015. The Company also announced that: (a) it had been actively cooperating with an SEC investigation relating to the reimbursement of expenses incurred by CEO Miles Nadal; (b) that Mr. Nadal had agreed to reimburse the Company $8.6 million, (c) during the quarter ended March 31, 2015, the Company incurred approximately $5.8 million in legal fees and other related expenses relating to the inquiry; and (d) the Company reassigned its CFO, Michael Sabatino, to a new role in the Company.
If you suffered a loss in MDC you have until September 29, 2015 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, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.