About Lieff CabraserLieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. The National Law Journal has recognized Lieff Cabraser as one of the nation's top plaintiffs' law firms for twelve years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms "representing the best qualities of the plaintiffs' bar and that demonstrated unusual dedication and creativity." Best Lawyers and U.S. News have named Lieff Cabraser as a "Law Firm of the Year" for each year the publications have given this award to law firms, including in 2015. For more information about Lieff Cabraser and the firm's representation of investors, please visit http://www.lieffcabraser.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been brought on behalf of investors who purchased the common stock of MDC Partners, Inc. ("MDC" or the "Company") (Nasdaq:MDCA) between September 24, 2013 and April 27, 2015, inclusive (the "Class Period"). If you purchased MDC common stock during the Class Period, you may move the Court for appointment as lead plaintiff by no later than September 29, 2015. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action. MDC investors who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358. Background on the MDC Securities Class Litigation The action charges MDC and certain of its senior executives with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. MDC, headquartered in New York, New York, is a holding company that provides a range of customized marketing, activation, communications and consulting services through its subsidiaries. The action alleges that, throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose, among other things, that: (i) MDC's SEC filings materially understated the Company's executive compensation; (ii) MDC's financial statements failed to disclose certain related party transactions; (iii) MDC's reported goodwill was materially overstated; (iv) MDC's financial statements were presented in violation of GAAP; and (v) MDC's disclosure controls and internal controls over financial reporting were materially deficient. On April 27, 2015, MDC announced its financial results for the period ended March 31, 2015 and revealed that the Securities and Exchange Commission had been conducting a formal investigation into the Company's reporting of executive compensation and goodwill. MDC also announced that it had formed a Special Committee of independent directors to review matters relating to the reimbursement of expenses purportedly incurred by defendant Miles Nadal, MDC's Chairman, Chief Executive Officer, and President during the Class Period. Following this news, the price of MDC common stock fell 27.8%, or $7.78 per share, from its closing price of $27.98 per share on April 27, 2015 to close at $20.20 per share on April 28, 2015.