NEW YORK, April 28, 2015 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of MDC Partners Inc. ("MDC Partners" or the "Company") (NasdaqGS: MDCA -News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at [email protected] or 212-697-6484.
The investigation concerns whether MDC Partners and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 27, 2015, the Company announced in press release its financial results for the first quarter ended March 31, 2015. Additionally, the Company disclosed that: (a) since October 5, 2014, the Company has been actively cooperating with an SEC investigation relating to the reimbursement of expenses incurred by the CEO, Miles Nadal; (b) Mr. Nadal agreed to reimburse the Company $8.6 million which the Company had sought for reimbursement; (c) During the quarter ended March 31, 2015, the Company incurred approximately $5.8 million in legal fees and other related expenses relating to the SEC inquiry; and (d) the Company reassigned its Chief Accounting Officer, Michael Sabatino to Senior Vice President, Special Projects.
Following this news, shares of MDC Partners has fallen as much as $9.34 per share, or 33.38%, during intraday trading to trade at $18.64 on April 28, 2015.
If you are aware of any facts relating to this investigation, or purchased shares of MDC Partners, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
SOURCE Bronstein, Gewirtz & Grossman, LLC