BALA CYNWYD, Pa., Jan. 14, 2016 /PRNewswire/ -- Law Office of Brodsky & Smith, LLC announces an investigation of Party City Holdco, Inc. ("Party City" or the "Company") (NYSE -PRTY- News) for potential violations of federal securities laws and breaches of the Party City Board's fiduciary duties.
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The investigation concerns a securities class action lawsuit commenced in the United States District Court for the Southern District of New York. The complaint alleges that the Registration Statement and Prospectus (1) failed to relate risks related to soft consumer traffic trends; (2) underestimated the impact that the prior year's Frozen "phenomenon" would have on third quarter 2015 sales results; and (3) failed to relate risks associated with the store reset initiative. As a result, shares of Party City have declined 22% from the Company's Initial Public Offering ("IPO").
If you purchased shares of Party City common stock in connection with the IPO on or around April 16, 2015, and wish to discuss the investigation, or if you have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC before January 19, 2016, who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, by visiting http://brodsky-smith.com/1020-prty-party-city-holdco-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders.
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