Marcus & Boxerman announces that a securities class action lawsuit has been filed in the USDC for the Southern District of New York against Fifth Street Finance Corp. (“Fifth Street” or the “Company”) (NASDAQ: FSC). If you purchased or otherwise acquired Fifth Street securities between July 7, 2014 and February 6, 2015, you have until November 30, 2015, to file a motion to be appointed lead plaintiff.
To participate in this class action lawsuit, please contact Michael Boxerman, Esquire, of Marcus & Boxerman, at 312-216-2730, or via email at mboxerman@marcusboxerman.com.
According to the complaint, the Company was 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: (a) pushing Fifth Street Finance Corp. into increasingly risky investments at unsustainable leverage levels; (b) delaying the write down of impaired investments to create the appearance of increasing revenues for Fifth Street Asset Management; and (c) 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.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151127005380/en/
Contacts:
Michael Boxerman, Esq., 312-216-2730
mboxerman@marcusboxerman.com
Facsimile:
312-216-2720
