Triangle Capital Corporation
2 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
|Company Name:||Triangle Capital Corporation|
|Stock Symbol :||NYSE:TCAP|
|Class Period Start:||05/07/2014|
|Class Period End:||11/01/2017|
|Lead Plaintiff motion:||01/22/2018|
|Type of Case:||Securities Class Action|
|Court:||U.S. District Court for the Southern District of New York|
Thieler Law Corp advises investors with losses exceeding $100,000 of the January 22, 2018 lead plaintiff deadline in a class action lawsuit filed against Triangle Capital Corporation (NYSE:TCAP) (“Triangle” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Triangle Capital Corporation securities between May 7, 2014 and November 1, 2017, have until January 22, 2018 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.
If you purchased Triangle Capital Corporation securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing email@example.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.
The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Triangle's investment professionals had internally recommended moving away from mezzanine loan deals due to changes in the market that no longer made these investments attractive risk-reward opportunities; the Company’s former CEO, Garland S. Tucker, III, had ignored the advice of Triangle’s investment professionals to chase higher short-term yields by causing Triangle to invest in mezzanine debts; the Company’s entire vintage of 2014 and 2015 investments were at substantial risk of non-accrual as a result of the poor quality of the investments and deficient underwriting practices in place at the time of the investments; and more than 13% of Triangle’s investment portfolio at cost was at risk of non-accrual and, thus, the fair value of the Company’s asset portfolio was artificially inflated.
On November 2, 2017, Triangle revealed quarterly results that included a lower-than-projected $0.36 per-share net investment income, and “meaningful write-downs of certain debt investments which previously have been carried below cost.” The Company cited an unexpected loss in Passport’s product line, resulting in lower sales and an overall performance decline.
Following this news, NYSE:TCAP fell $2.57, or 20.98%, to close at $9.68 on November 2, 2017.
If you were negatively impacted by your investment in Triangle Capital Corporation securities between May 7, 2014 and November 1, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
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