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SAN FRANCISCO, Nov. 28, 2017 -- Hagens Berman Sobol Shapiro LLP alerts investors in Triangle Capital Corporation (NYSE:TCAP) to the securities class action pending in the U.S. District Court for the Southern District of New York and to the January 22, 2017 Lead Plaintiff deadline. If you purchased or otherwise acquired securities of Triangle Capital Corporation between May 7, 2014 and November 1, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/TCAP
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
The complaint alleges that Defendants made a series of materially false and misleading statements, and omitted to disclose material information concerning the true overall quality of Triangle’s investment portfolio.
On November 1, 2017, Defendants reported significant credit quality problems with Triangle’s investments and admitted senior management previously ignored internal investment advice to move away from riskier mezzanine structures and into lower yielding, more secure, investments. This news drove the price of Triangle shares down $2.57, or about 21%, to close at $9.68 on November 2, 2017.
“We’re focused on the admittedly-ignored internal investment advice and undisclosed credit quality issues that, when revealed, significantly damaged investors and may explain why Triangle recently retained an advisor to explore strategic alternatives,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Triangle should consider their options to help in the investigation or take advantage of the SEC whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 70+ attorneys in 11 offices across the country. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
