NEW YORK, Nov. 02, 2015 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces that a class action lawsuit has been filed on behalf of purchasers of Fifth Street Finance Corp. (NASDAQ:FSC) common stock from July 7, 2014 through February 6, 2015, all dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Fifth Street Finance Corp. investors under the federal securities laws.
To join the Fifth Street Finance Corp. class action, go to the firm’s website at http://www.rosenlegal.com/cases-734.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
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. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
Fifth Street Finance Corp. is a specialty finance company managed by Fifth Street Asset Management, Inc. According to the lawsuit, defendants throughout the Class Period engaged in a fraudulent scheme to artificially inflate Fifth Street Finance Corp.’s assets and investment income to increase Fifth Street Asset Management’s revenue by: (1) pushing Fifth Street Finance Corp. into increasingly risky investments at unsustainable leverage levels; (2) delaying the write down of impaired investments to create the appearance of increasing revenues for Fifth Street Asset Management; and (3) systematically overstating the income generated by Fifth Street Finance Corp.’s investments and the fair value of its portfolio, while simultaneously providing the investing public with false and misleading portrayals of Fifth Street Finance Corp.’s business trends and expected performance. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 30, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm’s website at http://www.rosenlegal.com/cases-734.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.