Securities Class Action Filed Against CTPartners Executive Search Inc.
Violations of federal securities laws as a result of a series of materially false statements. The Complaint alleges that Defendants failed to disclose, during the Class Period, and contrary to the Company’s portrayal of itself as a company that operated based on the “integrity” of its employees and on the strength and qualifications of its search consultants, who were promoted based on objective and transparent criteria related to their merits and that such a purported meritocracy had been and would be a key to the Company’s ongoing success, that it had engaged in discrimination against female employees. According to the Complaint, a December 8, 2014 article in The New York Postreported that an “explosive” complaint had been filed with the Equal Employment Opportunity Committee (“EEOC”) by a former CTPartners employee. The article stated that the EEOC complaint alleged that CTPartners was, in fact, a den of discrimination where women are stripped of profitable accounts, held to a higher standard than their male colleagues and subjected to lewd behavior. Following the Company’s January 28, 2015 withdrawal of its preliminary fourth quarter and year-end guidance provided only one week earlier and downward revision of its earnings guidance for the first quarter and full fiscal year 2015 due to an increase in compensation expense for employee bonuses, the value of CTPartners shares declined significantly. Filed in S.D.N.Y.
Lead Plaintiff Deadline: The deadline to file for lead plaintiff in this action is 4/28/2015.
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