Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against PJT Partners Inc. (PJT) and Encourages Investors to Contact the Firm

NEW YORK--(BUSINESS WIRE)-- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who acquired PJT Partners Inc. (NYSE: PJT) securities between November 12, 2015 and March 28, 2016 (the “Class Period”).

PJT provides various strategic advisory, restructuring and special situations, and fund placement and secondary advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. PJT was formerly the financial and strategic advisory services, restructuring, and reorganization advisory services and Park Hill Group businesses of Blackstone, until a spin-off completed on or around October 1, 2015 established PJT as an independent entity. Through Park Hill Group, PJT provides fund placement and secondary advisory services for alternative investment managers, including private equity funds, real estate funds, and hedge funds.

The lawsuit alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) PJT’s compliance and fraud-prevention controls were inadequate; (ii) as a consequence of the company’s inadequate controls, Andrew W.W. Caspersen, a managing partner at Park Hill Group, perpetrated a criminal scheme to defraud investors of more than $95 million; and (iii) as a result of the foregoing, PJT’s public statements were materially false and misleading at all relevant times.

On March 28, 2016, Caspersen was arrested and charged with securities fraud and wire fraud for scheming to defraud investors of more than $95 million since at least as early as July 2015. In a parallel action, the SEC also charged Caspersen with defrauding two institutions to invest in a shell company that he controlled.

On this news, PJT stock fell $2.81, or over 10%, to close at $23.66 on March 28, 2016.

If you acquired PJT securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact J. Brandon Walker, Esq. by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information, please go to www.bespc.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160418006678/en/

Bragar Eagel & Squire, P.C.
J. Brandon Walker, Esq., 212-355-4648
[email protected]

Source: Bragar Eagel & Squire, P.C.

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