A lawsuit was filed on behalf of investors in Capitala Finance Corp (NASDAQ:CPTA) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 01/24/2018 -- An investor in NASDAQ:CPTA shares filed a lawsuit against Capitala Finance Corp over alleged violations of Federal Securities Laws.
Investors who purchased shares of Capitala Finance Corp (NASDAQ:CPTA) have certain options and for certain investors are short and strict deadlines running. Deadline: February 26, 2018. NASDAQ:CPTA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that between January 4, 2016 and August 7, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Capitala Investment Advisors had been losing professional talent in both underwriting and portfolio management due to the waiving of its incentive fee, that such loss of talent negatively impacted the quality of the Company's investment portfolio, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
On January 4, 2016, Capitala Finance Corp announced that Capitala Investment Advisors, LLC ("Capitala Investment Advisors"), the affiliate that manages the Company's investment activities, had agreed to waive its quarterly incentive fee.
On August 7, 2017, Capitala Finance Corp disclosed that six of its investments were on non-accrual status—twice as many as in the previous quarter.
On August 8, 2017, Capitala Finance Corp disclosed that Capitala Investment Advisors had been losing professional talent in underwriting and portfolio management since waiving its incentive fee, which had caused an increase in the number of the Company's nonaccrual investments.
Shares of Capitala Finance Corp (NASDAQ:CPTA) declined to $7.12 per share on December 29, 2017
Those who purchased shares of Capitala Finance Corp (NASDAQ:CPTA) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com