February 23, 2017 - The lead plaintiffs filed a motion for voluntary dismissal of the appeal and the court granted the motion. November 2, 2016 - The lead plaintiffs filed a notice of appeal. September 30, 2016 - The court granted defendants' motion to dismiss with prejudice. February 9, 2016 - Defendants filed a motion to dismiss. December 15, 2015 - The lead plaintiffs filed an amended complaint on behalf of investors who purchased MDC Partners Inc (NASDAQ: MDCA) common shares between October 28, 2013 and April 27, 2015. The lead plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between October 28, 2013 and April 27, 2015. October 6, 2015 - Lead plaintiffs and lead counsel were appointed. September 29, 2015 - Lead plaintiff motions were filed. July 31, 2015 - An investor in shares of MDC Partners Inc (NASDAQ: MDCA) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by MDC Partners Inc in connection with certain allegedly false and misleading statements made between September 24, 2013 and April 27, 2015. According to the complaint the plaintiff alleges on behalf of purchasers of MDC Partners Inc (NASDAQ: MDCA) common shares between September 24, 2013 and April 27, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 24, 2013 and April 27, 2015 defendants allegedly made or caused to be made a series of materially false or misleading statements about MDC Partners Inc's business, executive compensation, related-party transactions, goodwill, prospects and operations and that these material misstatements and omissions had the cause and effect of creating in the market an unrealistically positive assessment of MDC Partners Inc and its business, prospects and operations, thus causing the Company's common stock to be overvalued and artificially inflated, and that as a result, MDC Partners Inc common stock traded at artificially inflated prices and the investing public suffered damages. MDC Partners Inc reported that its annual Total Revenue rose from over $1.06 billion in 2013 to over $1.22 billion in 2014 and that its Net loss of $148.86 million in 2013 declined to a Net Loss of $24.06 million in 2014. Shares of MDC Partners Inc (NASDAQ: MDCA) grew from $18.21 per share in October 2014 to as high as $28.65 per share in late March 2015. Then on April 27, 2015, MDC Partners Inc reported its results for the first quarter 2015. Among other things, MDC Partners Inc said that since October 5, 2014, it has been actively cooperating with the production of documents for review by the Securities and Exchange Commission (the “SEC”) pursuant to a Subpoena and that in connection with this production of documents, MDC Partners Inc formed a Special Committee of independent directors to review certain matters relating to the reimbursement of expenses incurred by the CEO. MDC Partners Inc further stated that following the review, Mr. Nadal agreed to reimburse the Company for perquisites and payments for which the Company sought reimbursement, in the aggregate amount of $8.6 million. Additionally MDC Partners Inc said that the Subpoena received from the SEC also requested production of documents relating to the Company’s goodwill and certain other accounting practices, as well as information relating to trading in the Company’s securities by third parties. Shares of MDC Partners Inc (NASDAQ: MDCA) declined from as high as $28.62 per share on April 27, 2015, to as low as $18.00 per share on April 28, 2015, respectively as low as $16.47 per share on July 24, 2015.