Thieler Law Corp advises investors with losses exceeding $100,000 of the May 21, 2016 lead plaintiff deadline in a class action lawsuit filed against LPL Financial Holdings Inc (NASDAQ: LPLA) (“LPL” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of California and investors, who purchased LPL Financial Holdings Inc securities between December 8, 2015 and February 11, 2016, have until May 21, 2016 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased LPL Financial Holdings Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that LPL's earnings and revenue were substantially declining; LPL's client assets were not in the midst of a recovery, but were actually deteriorating and would decline by billions of dollars; and LPL's gross profits would not decline “slightly,” but significantly, and LPL would in fact experience its worst sequential gross profit decline in four years. As a result of defendants’ false statements and/or omissions, LPL common stock traded at artificially inflated prices during the Class Period.

On December 10, 2015, the Company revealed the early completion of its accelerated share repurchase program. 

On February 11, 2016, LPL revealed its fourth quarter and full year 2015 financial results, including adjusted earnings per share of $0.37 per share, lower than the consensus analyst estimates of $0.51 per share.  LPL also disclosed disappointing revenues, mainly as a result of significantly lower commission revenues and revenues from alternative investments, as well as higher-than-expected expenses for the quarter. 

Following this news, NASDAQ: LPLA shares declined nearly 35% on February 12, 2016.

If you were negatively impacted by your investment in LPL Financial Holdings Inc securities between December 8, 2015 and February 11, 2016 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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