TRIANGLE CAPITAL SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Triangle Capital Corporation – (TCAP)
NEW ORLEANS, Nov. 24, 2017 /PRNewswire/ — Kahn Swick & Foti, LLC («KSF») and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 22, 2018 to file lead plaintiff applications in a securities class action lawsuit against Triangle Capital Corporation (NYSE: TCAP), if they purchased the Company’s shares between May 7, 2014 and November 1, 2017, inclusive (the «Class Period»). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Triangle Capital and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit http://ksfcounsel.com/cases/nyse-tcap/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 22, 2018.
About the Lawsuit
Triangle Capital and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 1, 2017, Triangle revealed a decline in the fair value of its investment portfolio of nearly 7%, $8.9 million in net realized losses and $65.8 million in net unrealized depreciation for the quarter. Further, seven investments were moved to full non-accrual status and investments on non-accrual had ballooned to 13.4% and 4.7% of Triangle’s total portfolio at cost and fair value, respectively.
On this news, the price of Triangle shares plummeted nearly 21%, or $2.57 per share.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC