NEW YORK, Nov. 19, 2015 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities that purchased the securities of Party City Holdco Inc. (“Party City” or the “Company”) (NYSE:PRTY) pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with Party City’s April 16, 2015 initial public offering (“IPO”), alleging violations of the Securities Act of 1933 against the Company and certain of its officers (the “Complaint”).
The Complaint alleges that Defendants failed to disclose certain risks in the Registration Statement and Prospectus, 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 true details entered the market, the Complaint claims that investors suffered damages
If you wish to serve as lead plaintiff, you must move the Court no later than January 19, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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