NEW
YORK, Aug. 11, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action
lawsuit has commenced on behalf of shareholders of Party City
Holdco Inc. (NYSE: PRTY).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/party-city-class-action-loss-submission-form/?id=43322&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Party City between November 8,
2022 and June 9, 2023.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
October 2, 2023 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
According to a filed complaint, Party City Holdco Inc. issued
materially false and/or misleading statements and/or failed to
disclose that: (i) the Company affirmatively misrepresented that
its capital resources "will be adequate to meet our liquidity needs
for at least the next 12 months"; (ii) omitted that there was
substantial doubt about the Company's ability to continue as a
going concern; (iii) downplayed the nature and extent of the
Company's then-existing liquidity problems; (iv) omitted that the
Company's existing credit facilities were insufficient to satisfy
its operational needs and that it was unable to obtain additional
loans in the normal course of business; and (v) omitted that there
was a material weakness in its internal control over financial
reporting.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities
fraud. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law