NEW YORK, April 22, 2016 (GLOBE NEWSWIRE) -- Safirstein Metcalf LLP announces  that a class action lawsuit has been filed in the United States District Court, Southern District of New York  on behalf of purchasers of  PJT Partners Inc. (“PJT” or the “Company”) (NYSE:PJT) securities between November 12, 2015 and March 28, 2016 inclusive (the “Class Period”). This law suit seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”). 

If you purchased PJT securities during the Class Period, you may, no later than June 14, 2016, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of all class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

If you want more information about the PJT Securities Class Action, contact Sheila Feerick at Safirstein Metcalf LLP, 1-800-221-0015 or email info@SafirsteinMetcalf.com or at www.safirsteinmetcalf.com/pjt.html

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) PJT’s compliance and fraud-prevention controls were inadequate; (ii) as a consequence of the Company’s inadequate controls, Andrew W.W. Caspersen (“Caspersen”), a managing partner at Park Hill Group, perpetrated a criminal scheme to defraud investors of more than $95 million; and (iii) as a result of the foregoing, PJT’s public statements were materially false and misleading at all relevant times. 

On March 28, 2016, Caspersen was arrested and charged with securities fraud and wire fraud for scheming to defraud investors of more than $95 million since at least as early as July 2015.  The SEC has charged Caspersen with defrauding two institutions to invest in a shell company that he controlled. 

On the news recited above, PJT stock fell $2.81, or 10.62%, to close at $23.66 on March 28, 2016. 

About Safirstein Metcalf LLP
Safirstein Metcalf LLP focuses it practice on shareholder rights. The law firm also practices in the areas of antitrust and consumer protection.  All of the Firm’s legal endeavors are rooted in its core mission: provide investor and consumer protection.

Attorney advertising.  Prior results do not guarantee a similar outcome.

Safirstein Metcalf LLP
Peter Safirstein, Esq.
1250 Broadway
27th Floor
New York, NY  10001
1-800-221-0015
info@SafirsteinMetcalf.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.