SAN DIEGO, May 10, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline is coming up on May 23, 2016 in the lawsuit that was filed for certain investors in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) over alleged Securities Laws Violations by LPL Financial Holdings.
Investors who purchased shares of LPL Financial Holdings Inc (NASDAQ:LPLA) have certain options and for certain investors are short and strict deadlines running. Deadline: May 23, 2016. NASDAQ:LPLA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1 (858) 779 - 1554.
In November 2010, private equity firms TPG Capital (“TPG”) and Hellman & Friedman LLC took LPL Financial Holdings Inc public in an initial public offering (“IPO”). The plaintiff says that TPG retained a substantial ownership stake in the Company after the IPO and influence over its affairs and that following the IPO, LPL Financial Holdings Inc became the subject of several regulatory and governmental investigations into allegedly fraudulent, deceptive and/or legally deficient business practices at LPL Financial Holdings Inc and among its network of financial advisors.
The plaintiff alleges that the defendants issued false and misleading statements and/or failed to disclose adverse information regarding LPL Financial Holdings' business and prospects, including that LPL Financial Holdings' earnings and revenue were not steady, but were substantially declining, that LPL Financial Holdings' client assets were not in the midst of a recovery, but were actually deteriorating and would decline by billions of dollars, and that LPL Financial Holdings’ gross profits would not decline "slightly," but significantly, and LPL Financial Holdings Inc would in fact experience its worst sequential gross profit decline in four years.
The plaintiff says that as a result of defendants' false statements and/or omissions, LPL Financial Holdings Inc common stock traded at artificially inflated prices between December 8, 2015 and February 11, 2016, reaching a high of $45.06 per share on December 8, 2015.
Those who purchased LPL Financial Holdings Inc (NASDAQ:LPLA) shares should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.