Recent Security Class Actions

Party City Holdco Inc. (US TRADING VENUE: PRTYQ)

Company Name:Party City Holdco Inc.
Class Period Start:11/08/2022
Class Period End (inclusive):06/09/2023
Filing Deadline:10/02/2023

The Complaint alleges, in sum, that throughout the Class Period, Defendants made or caused to be made misleading statements and omissions concerning the Company’s true financial strength. Specifically, the Complaint alleges that in the Q3 2022 10-Q, the Company: (i) affirmatively misrepresented that its capital resources “will be adequate to meet our liquidity needs for at least the next 12 months”; (ii) omitted that there was substantial doubt about the Company’s ability to continue as a going concern; (iii) downplayed the nature and extent of the Company’s then-existing liquidity problems; (iv) 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 (v) omitted that there was a material weakness in its internal control over financial reporting.