SHAREHOLDER ALERT: Potential Recovery for Party City Holdco Inc. (PRTYQ) Investors Affected by Stock Drop - Levi & Korsinsky Pursuing Class Action Lawsuit
News provided byACCESSWIRE
Sep 19, 2023, 9:45 AM ET
NEW YORK, NY / ACCESSWIRE / September 19, 2023 / If you suffered a loss on your Party City Holdco Inc. (OTC PINK:PRTYQ) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:
or contact Joseph E. Levi, Esq. via email at firstname.lastname@example.org or call (212) 363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: A class action securities lawsuit was filed against Party City Holdco Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between November 8, 2022 and June 9, 2023.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) the Company affirmatively misrepresented that its capital resources "will be adequate to meet our liquidity needs for at least the next 12 months"; (ii) omitted that there was substantial doubt about the Company's ability to continue as a going concern; (iii) downplayed the nature and extent of the Company's then-existing liquidity problems; (iv) omitted that the Company's existing credit facilities were insufficient to satisfy its operational needs and that it was unable to obtain additional loans in the normal course of business; and (v) omitted that there was a material weakness in its internal control over financial reporting.
WHAT'S NEXT? If you suffered a loss in Party City stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/party-city-lawsuit-submission-form?prid=48790&wire=1 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
SOURCE: Levi & Korsinsky, LLP
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