STEVENSON, Md., March 4, 2015 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of CTPartners Executive Search Inc. ("CTPartners" or the "Company") (NYSE: CTP ) securities during the period between February 26, 2014 and January 28, 2015, inclusive (the "Class Period"). Investors who wish to become proactively involved in the litigation have until April 28, 2015 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in CTPartners securities purchased on or after February 26, 2014 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html . You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company securities during the Class Period. Brower Piven also encourages anyone with information regarding the Company's conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period, 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 the Company had engaged in discrimination against women employees. According to the complaint, following a December 8, 2014 article in The New York Post reporting that an "explosive" complaint had been filed with the Equal Employment Opportunity Committee by a former CTPartners employee and detailed CTPartners as 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, and further, following the Company's January 28, 2015 withdrawal of the Company's 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.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616
