MDC PARTNERS INC. (NASDAQ:MDCA) Files An 8-K Other EventsItem 8.01 Other Events
Dismissal of Canadian Class Action
On June 4, 2018, the Ontario Superior Court of Justice rendered a decision in the ongoing class action case filed by Roberto Paniccia (as plaintiff) against the Company and certain other individual defendants. Specifically, the Court dismissed (with costs) the putative class members’ motion for leave to proceed with the plaintiff’s claims for misrepresentations of material facts to the Ontario Securities Act.
The referenced class action claim was commenced by Roberto Paniccia on June 5, 2015, alleging violations of the Ontario Securities Act (and equivalent legislation in other Canadian provinces and territories) as well as common law misrepresentations based on allegedly materially false and misleading statements and omissions in the Company’s public statements. Following the Court’s decision, on June 18, 2018, the plaintiff and each of the defendants consented to the dismissal of the action with prejudice (and without costs), subject to the Court’s formal approval.
About MDC PARTNERS INC. (NASDAQ:MDCA)
MDC Partners Inc. is a provider of marketing, advertising, activation, communications and strategic consulting solutions. The Company’s segment is Advertising and Communications. It operates through a network of Partner Firms. The Advertising and Communications segment consists of integrated marketing consulting services to Partner Firms that offers advertising, marketing, media, communications solutions, and specialized consumer insights and analytics, including global advertising and marketing services; media buying, planning and optimization; interactive and mobile marketing; direct marketing; public relations; corporate communications; market research; corporate identity and branding services; sales promotion; the design, development, research and implementation of consumer services, and direct marketing services. In addition, certain firms also provide consumer activation services, investor relation services and/or general public insights.