Block & Leviton LLP Announces That It Has Launched An Investigation of MDC Partners Inc. For Possible Violations Of The Federal Securities Laws

BOSTON, April 28, 2015 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible securities law violations by MDC Partners Inc. ("MDC" or the "Company") (NASDAQ: MDCA), an advertising holding company. The investigation concerns whether MDC and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On April 27, 2015, MDC announced in its first-quarter earnings report that, in October 2014, it received a subpoena from the Securities & Exchange Commission, seeking information about MDC's Chief Executive Miles Nadal's expenses.  The Company revealed that Nadal charged millions of dollars in expenses to MDC and Nadal has agreed to repay $8.6 million to the Company.  MDC also revealed the SEC subpoena sought information relating to MDC's goodwill and other accounting practices and "information relating to trading in the company's securities by third parties" and that the Company established an independent special committee to review Nadal's expense reimbursement in October 2014, but did not reveal this information until yesterday.

On this news, shares of MDC have fallen approximately $8.50, or 30% in intraday trading.

Block & Leviton's investigation seeks to determine, among other things, whether MDC or its officers and directors have violated the federal securities laws. If you have any information relevant to this investigation, or if you have purchased MDC securities and have questions about your legal rights, please contact attorney Mark A. Delaney or attorney Erica G. Langsen of Block & Leviton LLP by phone at (617) 398-5600 or by email at [email protected] or [email protected].

Confidentiality to whistleblowers or others with information relevant to the investigation is assured.

This notice may constitute attorney advertising.

Contact: BLOCK & LEVITON LLP
Mark A. Delaney
Erica G. Langsen
(617) 398-5600
[email protected]
[email protected]  

SOURCE Block & Leviton LLP

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http://www.blockesq.com

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