Wolf Popper LLP Announces Investigation on Behalf of Investors in MDC Partners Inc.
Apr 29, 2015, 11:39 ET
NEW YORK, April 29, 2015 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of investors in MDC Partners Inc. ("MDC Partners" or the "Company") common stock (NASDAQ: MDCA). MDC Partners investors are advised to contact Fei-Lu Qian at 877.370.7703 or [email protected].
On April 27, 2015, after the market closed, MDC Partners announced its financial results for the first quarter ended March 31, 2015. The Company also disclosed that in October 2014, it had received a SEC subpoena requesting production of documents relating to the reimbursement of $8.6 million of expenses to the Company by its CEO, Miles Nadal, in connection with certain payments made by the Company to or on behalf of Mr. Nadal and Nadal Management Limited from 2009 through 2014. The subpoena also requested production of documents relating to the Company's goodwill and certain other accounting practices. In addition, the Company reassigned its Chief Accounting Officer to a new role in the Company.
On this news, MDC Partners common stock plummeted $7.78 per share or approximately 28%, to close at $20.20 per share on April 28, 2015.
Wolf Popper LLP has extensive experience representing shareholders in securities class actions and has successfully recovered billions of dollars for defrauded investors. The reputation and expertise of the firm in representing shareholders has been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com
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Wolf Popper LLP
Fei-Lu Qian
845 Third Avenue
New York, NY 10022
Tel.: 877.370.7703
Fax: 877.370.7704
Email: [email protected]
SOURCE Wolf Popper LLP