The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased La Quinta Holdings Inc. (NYSE: LQ) securities pursuant to the Company’s Secondary Public Offering (the “SPO”) on or about March 24, 2015 or between February 25, 2015 and September 17, 2015.
The complaint alleges, among other allegations, that documents filed in connection with the SPO failed to disclose material trends, events and/or uncertainties, including that: (a) the Company was experiencing declining customer demand in its key Texas market; (b) there were on-going disruptions caused by the transitioning of the Company’s call center operations; and (c) the Company was experiencing declining customer demand and market share losses due in part to certain of La Quinta’s facilities being outdated and in need of major renovation, thus necessitating significant capital expenditures and operational disruptions.
If you suffered a loss in La Quinta you have until June 24, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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