PJT Partners Inc. 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 PJT Partners Inc. (NYSE: PJT) securities between November 12, 2015 and March 28, 2016.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) PJT’s compliance and fraud-prevention controls were inadequate; (2) as a consequence of PJT’s inadequate controls, Andrew W. W. Caspersen, a managing partner at the Company’s private-equity arm, Park Hill Group, perpetrated a criminal scheme to defraud investors.
On March 28, 2016, news reports revealed that Caspersen was arrested and charged with defrauding investors of more than $95 million. A criminal complaint was filed in federal court, in addition to a complaint filed by the U.S. Securities and Exchange Commission. In a press release, PJT Partners announced Caspersen had been terminated after they were “stunned and outraged to learn of the fraudulent circumvention and violation” of the Company’s ethical and compliance standards.
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If you suffered a loss in PJT Partners you have until June 14, 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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