The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of California on behalf of investors who purchased LPL Financial Holdings Inc. (NASDAQ: LPLA) securities between December 8, 2015 and February 11, 2016.
The complaint alleges that during the Class Period, defendants issued false and misleading statements and/or failed to disclose adverse information regarding LPL’s business and prospects, including that: (a) LPL’s earnings and revenue were not steady, but were substantially declining; (b) LPL’s client assets were not in the midst of a recovery, but were actually deteriorating and would decline by billions of dollars; (c) LPL’s gross profits would not decline “slightly”, as indicated, but significantly, (d) LPL would in fact experience its worst sequential gross profit decline in four years; and (e) as a result of the aforementioned, LPL common stock would trade at artificially inflated prices during the Class Period.
If you suffered a loss in LPL Financial Holdings you have until May 23, 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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