SOURCE: Kahn Swick & Foti, LLC

August 28, 2015 22:00 ET

MDC SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against MDC Partners Inc. - MDCA

NEW ORLEANS, LA--(Marketwired - Aug 28, 2015) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 29, 2015 to file lead plaintiff applications in a securities class action lawsuit against MDC Partners Inc. (NASDAQ: MDCA) if they purchased the Company's securities between September 24, 2013 and April 27, 2015, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.

What You May Do

If you purchased shares of MDC and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 29, 2015.

About the Lawsuit

MDC and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On April 27, 2015, MDC disclosed that in October 2014 it had received a subpoena from the Securities and Exchange Commission and was "actively cooperating" with the SEC, which was investigating the Company related to expenses incurred by its CEO Miles Nadal, as well as accounting, goodwill and trading of the company's stock by third parties. MDC stated that it formed a special committee to investigate the accusations with particular emphasis on perquisites and payments made to Nadal between 2009 and 2014 and that, as a result, Nadal agreed to reimburse the company for $8.6 million related to certain incomplete expenses.

On this news, the price of MDC's shares plummeted by 28%.

About Kahn Swick & Foti, LLC

To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.

Contact Information

  • Contact:

    Kahn Swick & Foti, LLC
    Lewis Kahn
    Managing Partner
    lewis.kahn@ksfcounsel.com
    1-877-515-1850
    206 Covington St.
    Madisonville, LA 70447