Party City Lawsuit Loss Submission Form

The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Party City Holdco Inc. (OTC: PRTYQ) who purchased securities between November 8, 2022 and June 9, 2023. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.

In particular, the Party City lawsuit alleges that (i) the Company 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.

Shareholders have until October 2, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.

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