PRTY, PRTYQ Investors Have Opportunity to Lead Party City Holdco Inc. Securities Fraud Lawsuit

BENSALEM, Pa., Aug. 23, 2023 /PRNewswire/ -- Law Offices of Howard G. Smith 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

Investors suffering losses on their Party City investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

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SOURCE Law Offices of Howard G. Smith