NEW YORK, Nov. 25, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of Party City Holdco Inc. (NYSE:PRTY) (“Party City” or the “Company”) securities pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with the Company’s April 16, 2015 initial public offering (“IPO”) at $17.00 per share.
Shareholders who incurred losses on shares purchased within the Class Period are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased the shares of Party City Holdco Inc., you may, no later than January 19, 2016, request that the Court appoint you lead plaintiff of the proposed class.
The filed complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the defendants’ failure to disclose in connection with its IPO certain risks including soft consumer traffic trends, the extraordinary performance of the competing Disney Frozen franchise, and the need for and disruption from store remerchandising.
According to the complaint, after the true details of these risks came to light up to the time the lawsuit was filed, including during an August 13, 2015 conference call, referencing the Disney Frozen licensed product and the anticipated disruptions from store remerchandising, and through a November 12, 2015 Company press release explaining among other things how the Disney Frozen product-line had created an anomaly in the Company’s business, the value of Party City shares declined significantly.
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 classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Party City Investigation.”
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