Kessler Topaz Meltzer & Check, LLP Reminds Party City Holdco Inc. Shareholders of January 19, 2016 Lead Plaintiff Deadline in Class Action Lawsuit – PRTY

RADNOR, PA / ACCESSWIRE / January 14, 2016 / The law firm of Kessler Topaz Meltzer & Check, LLP reminds Party City Holdco Inc. (NYSE: PRTY) (“Party City” or the “Company”) shareholders that a class action lawsuit has been filed against the Company on behalf of purchasers of the Company’s securities in connection with and following the Company’s Initial Public Offering (“IPO”) on or around April 16, 2015.

Party City shareholders are reminded that they may, no later than January 19, 2016, petition the Court to be appointed as a lead plaintiff of the class. Members of the purported class may petition the Court to be appointed as a lead plaintiff through Kessler Topaz Meltzer & Check or other counsel, or may choose to do nothing and remain an absent class member.

For additional information about this lawsuit, or to request information about this action online, please visit http://www.ktmc.com/new-cases/party-city-holdco-inc.

Party City shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706 or at info@ktmc.com.

Party City, through its subsidiaries, designs, manufactures, and distributes party supplies throughout North America. Party City’s stores sell costumes, novelties, gifts, and paper goods for parties and celebrations.

On April 16, 2015, Party City completed its IPO of common stock to investors, selling over 25 million shares of stock to investors at $17.00 per share, for gross proceeds of over $425 million.

According to the shareholder class action complaint, the Offering Documents filed in connection with the Company’s IPO contained misstatements of material fact and/or omissions. Specifically, the complaint alleges that the defendants were aware of but failed to disclose certain risks to investors in the Offering Documents, including the impact on the Company of (i) soft consumer traffic trends, (ii) a lapping of the extraordinary performance of the Disney Frozen franchise from the prior year, and (iii) a store reset initiative.

As further alleged in the complaint, on November 12, 2015, Party City reported disappointing quarterly financial and operational results. During a conference call to discuss the quarterly financial results, Party City’s President reported that the quarterly sales shortfall was due to, among other things, (i) “a significant store reset initiative” and (ii) an underestimation of the impact that the prior year’s Frozen “phenomenon” would have on third quarter 2015 sales results.

On this news, shares of Party City’s common stock fell $1.75 per share, or 11.7 percent, to close on November 13, 2015 at $13.13 per share, on heavy trading volume.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299 – 7706 or (610) 667 – 7706, or via e-mail at info@ktmc.com

Party City shareholders may, no later than January 19, 2016, petition the Court to be appointed as a lead plaintiff of the class.

A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Members of the purported class may petition the Court to be appointed as a lead plaintiff through Kessler Topaz Meltzer & Check or other counsel, or may choose to do nothing and remain an absent class member. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
Darren J. Check, Esq.
280 King of Prussia Road
Radnor, PA 19087
(888) 299-7706
(610) 667-7706
info@ktmc.com

SOURCE: Kessler Topaz Meltzer & Check, LLP

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