NEW YORK (Legal Newsline) — A shareholder is suing a Canadian corporation and executives, alleging material misrepresentations and omissions.
Chad Stanczyk filed a class action lawsuit, individually and on behalf of all others similarly situated, Aug. 26 in U.S. District Court for the Southern District of New York against Concordia International Corp., Mark Thompson and Adrian de Saldanha, alleging violation of the Securities Exchange Act.
According to the complaint, due to the defendants' actions, Stanczyk suffered significant economic losses and damages. The plaintiff alleges the defendants misled the investing public by trading at artificially inflated prices during the class period, and failed to disclose the company was experiencing a substantial increase in market competition and that it would be forced to suspend its dividend.
Stanczyk seeks trial by jury, declaration this complaint is a proper class action, compensatory damages, court costs and expenses and all other relief the court deems just and proper. He is represented by attorneys Jeremy A. Lieberman, J. Alexander Hood II and Marc Gorrie of Pomerantz LLP in New York, by Patrick V. Dahlstrom of Pomerantz LLP in Chicago, and by Michael Goldberg and Brian Schall of Goldberg Law PC in Los Angeles.
U.S. District Court for the Southern District of New York Case number 1:16-cv-06749