Law firm, Rosen, is encouraging Party City investors with losses to secure counsel before an important deadline in securities class action.
Rosen law firm has announced the filing of a class action lawsuit on behalf of purchasers of the securities of Party City between 8 November, 2022, and 9 June, 2023.
Those who purchased securities during the period may be entitled to compensation without payment of any fees or costs through a contingency fee arrangement.
According to the lawsuit, throughout the class period, the defendants:
1) Affirmatively misrepresented that its capital resources ‘will be adequate to meet our liquidity needs for at least the next 12 months.
2) Omitted that there was substantial doubt about the company’s ability to continue as a going concern.
3) Downplayed the nature and extent of the company’s then existing liquidity problems.
4) 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
5) Omitted that there was a material weakness in its internal control over financial reporting.
