LOS ANGELES, Sept. 22, 2023 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Party City Holdco Inc. ("Party City" or the "Company") (NYSE: PRTY; OTC: PRTYQ).
Class Period: November 8, 2022 ? June 9, 2023
Lead Plaintiff Deadline: October 2, 2023
If you wish to serve as lead plaintiff of the Party City lawsuit, you can submit your contact information at www.glancylaw.com/cases/Party-City-Holdco-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
The complaint filed alleges that, throughout the Class Period, 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; (5) omitted that there was a material weakness in its internal control over financial reporting; and (6) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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SOURCE Glancy Prongay & Murray LLP