TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

PJT Partners Inc (NYSE:PJT) Investor Securities Class Action Lawsuit 04/15/2016

  • If you purchased shares of PJT Partners Inc (NYSE:PJT), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
PJT Partners Inc
Security
NYSE: PJT

Case Name
PJT Partners Shareholder Class Action Lawsuit 04/15/2016
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
You must register or login to receive notifications.

Click here to subscribe to PJT Partners Inc.
Summary

October 13, 2017 - The case was voluntarily dismissed.

September 8, 2017 - The court granted the defendants' motion to dismiss.

September 23, 2016 - An amended complaint was filed.

April 18, 2016 (Shareholders Foundation) - An investor in shares of PJT Partners Inc (NYSE:PJT) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by PJT Partners Inc in connection with certain allegedly false and misleading statements made between November 12, 2015 and March 28, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of PJT Partners Inc (NYSE:PJT) common shares between November 12, 2015 and March 28, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 12, 2015 and March 28, 2016 defendants made false and/or misleading statements and/or failed to disclose that: (i) PJT’s compliance and fraud-prevention controls were inadequate; (ii) as a consequence of the Company’s inadequate controls, Andrew W.W. Caspersen (“Caspersen”), a managing partner at Park Hill Group, perpetrated a criminal scheme to defraud investors of more than $95 million; and (iii) as a result of the foregoing, PJT’s public statements were materially false and misleading at all relevant times.

PJT Partners Inc reported that its annual Total Revenue rose from $354.62 million in 2012 to $405.94 million in 2015 and that its Net Loss of $42.55 million turned into a Net Income of $7.58 million in 2015.

On March 28, 2016, news reports revealed that PJT Partners Inc’s managing director, Andrew Caspersen, was arrested and charged with defrauding investors of more than $95 million. Mr. Caspersen allegedly stole the money via phony private equity investments and lost millions through aggressive options trading with his own account. After Mr. Caspersen’s arrest, PJT Partners Inc said in a statement that it was “stunned and outraged” and has since conducted an internal investigation for federal prosecutors. Shares of PJT Partners Inc (NYSE:PJT) declined to as low as $19.96 per share on March 28, 2016.