NEW YORK, Jan. 8, 2010 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Kohlberg Capital Corporation ("Kohlberg" or the "Company") (Nasdaq:KCAP) stock during the period between March 16, 2009, through December 24, 2009, inclusive (the "Class Period") for violations of the federal securities laws.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Kohlberg common stock during the Class Period, and wish to move the court for appointment of lead plaintiff, you must do so by March 1, 2010. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. 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 Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.
The complaint charges that Kohlberg and its two top executive officers violated the federal securities laws by issuing false and misleading financial statements during the Class Period. The complaint alleges that defendants violated Generally Accepted Accounting Principles by failing to properly account for the fair value of its investment portfolio. The complaint further alleges that the Company misrepresented its efforts with its auditor, Deloitte and Touche LLP ("Deloitte"), to resolve issues regarding the Company's fair value accounting. When these allegations came to light, the market value of Kohlberg securities dropped, damaging investors.
The Brualdi Law Firm, P.C. is a New York, New York based law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, with a particular emphasis on sophisticated class action litigation in the securities and antitrust areas, as well as corporate derivative suits. More information about the firm is available through its website, www.brualdilawfirm.com, and upon request from the firm.
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