NEW YORK, May 04, 2016 (GLOBE NEWSWIRE) -- Stull, Stull & Brody ("SS&B") announces that a class action lawsuit was commenced in the United States District Court for the Southern District of New York on behalf of persons who purchased or acquired the securities of PJT Partners Inc. (“PJT” or the “Company”) (NYSE:PJT) between November 12, 2015 and March 28, 2016 (the "Class Period"). 

If you purchased PJT securities during the Class Period you may move the Court to serve as lead plaintiff by no later than June 14, 2016. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.

SS&B is also investigating whether allegations in the class action were breaches of fiduciary duties by the officers and directors of PJT.  An action for breaches of fiduciary duty can be brought derivatively by a shareholder who held Company stock at the start of the Class Period and who continues to hold Company stock until the derivative action has concluded.

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose: (1) PJT’s compliance and fraud-prevention controls were inadequate; (2) as a consequence of PJT’s inadequate controls, Andrew W. W. Caspersen, a managing partner at the Company’s private-equity arm, Park Hill Group, perpetrated a criminal scheme to defraud investors.

On March 28, 2016, news reports revealed Caspersen was arrested and charged with defrauding investors of more than $95 million. A criminal complaint was filed in federal court, in addition to a complaint filed by the SEC. In a press release, PJT announced Caspersen had been terminated after they were “stunned and outraged to learn of the fraudulent circumvention and violation” of PJT’s ethical and compliance standards.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Michael J. Klein, Esq. at Stull, Stull & Brody by e-mail at PJT@ssbny.com, by calling toll-free 1-800-337-4983 x147, or by fax at 212-490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.

Stull, Stull & Brody has litigated many class actions for violations of securities laws and breaches of fiduciary duty on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions.  Stull, Stull & Brody has offices in New York and Beverly Hills.  The Stull, Stull & Brody website (www.ssbny.com) has additional information about the firm.

Attorney advertising.  Prior results do not guarantee a similar outcome.  This press release may be considered Attorney Advertising in some jurisdictions under applicable laws and ethical rules.