MDC Partners (MDCA) Says Class-Action Suit Dismissed

October 5, 2016 9:17 AM EDT

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MDC Partners Inc. (Nasdaq: MDCA) announced that the U.S. District Court presiding over North Collier Fire Control and Rescue District Firefighter Pension Plan, et al v. MDC Partners Inc., et al, No. 15 Civ. 6034 (S.D.N.Y.), granted the Company's motion to dismiss the plaintiffs' amended complaint in its entirety with prejudice, and directed the Clerk of the Court to "close the case."

"We are extremely pleased with the Court's decision," said Scott L. Kauffman, MDC Partners' Chairman and Chief Executive Officer. "We defended and promptly moved to dismiss this suit because we believed strongly that the plaintiffs' allegations concerning the Company's accounting practices and disclosures were without merit, and it is gratifying that the Court dismissed this class action case in its entirety."

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