NEW ORLEANS, June 3, 2016 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 24, 2016 to file lead plaintiff applications in a securities class action lawsuit against La Quinta Holdings Inc. (NYSE: LQ), if they purchased the Company's securities between February 25, 2015 and September 17, 2015, inclusive (the "Class Period"), including in the March 24, 2015 secondary public offering. This action is pending in the Southern District of New York United States District Court.
What You May Do
If you purchased shares of La Quinta and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 24, 2016.
About the Lawsuit
La Quinta and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 29, 2015, La Quinta announced its second quarter 2015 financial results, reporting that its earnings had been adversely affected by a $4 million loss on the sale of a property and a $42 million impairment charge on the potential sale of 24 Company-owned hotels. Then, on September 17, 2015, La Quinta announced that it had further reduced its 2015 financial guidance and that its President and CEO had stepped down.
On this news, the price of La Quinta's stock plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC