Roche CEO Warns US Drug Price Deals Could Raise Costs of New Medicines in Switzerland 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Boeing Seeks FAA Emissions Waiver to Continue 777F Freighter Sales Amid Strong Cargo Demand 
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
 - EconoTimes)
NEW YORK, Jan. 29, 2016 -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Third Avenue Focused Credit Fund (“Third Avenue,” the “Company” or the “Fund”) (Nasdaq:TFCIX) (Nasdaq:TFCVX) in the United States District Court for the Central District of California on behalf of a class consisting of all persons or entities who purchased the Third Avenue stock from March 1, 2013 to December 10, 2015. This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Act of 1933 (the “Securities Act”).
The Complaint alleges that, in violation of the Securities Act of 1933, the prospectuses and registration statements of this fixed income mutual fund contained material false or misleading statements regarding its liquidity. According to the Complaint, Third Avenue promised investors that it would place no more than 15% of its assets in illiquid securities, securities that could not be sold promptly at or near its carrying value. The Complaint alleges that an analysis of the Fund’s holdings in 2013, 2014, and 2015 has revealed that the Fund consistently held more than 15% of its net assets in illiquid securities. According to the Complaint, the Fund’s excessive illiquidity meant that it could not promptly sell assets to meet growing redemptions without unloading them at fire sale prices, leading it to suspend redemptions and shut down the Fund on December 10, 2015.
If you wish to serve as lead plaintiff, you must move the Court no later than March 29, 2016. 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, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
