An investigation for investors in RCS Capital Corp (NYSE:RCAP) shares over potential securities laws violations by RCS Capital was announced and NYSE:RCAP stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 11/11/2014 -- An investigation on behalf of investors of RCS Capital Corp (NYSE:RCAP) shares over potential securities laws violations by RCS Capital and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of RCS Capital Corp (NYSE:RCAP) have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of RCS Capital Corp (NYSE:RCAP) concerning whether a series of statements by RCS Capital regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
RCS Capital Corp reported that its annual Total Revenue rose from $114.13 million in 2010 to $886.50 million in 2013 and that its Net loss of $2.38 million in 2010 turned into a Net Income of $2.60 million in 2013.
Shares of RCS Capital Corp (NYSE:RCAP) grew from $16.83 per share in late 2013 to as high as $$38.59 per share in April 2014
On October 1, 2014 / RCS Capital Corp (NYSE:RCAP) announced that it has entered into a definitive agreement to acquire Cole Capital Partners, LLC and Cole Capital Advisors, Inc. (together, "Cole Capital") from American Realty Capital Properties, Inc. (NASDAQ: ARCP) ("ARCP") for $700 million plus contingent consideration.
Then on November 3, 2014, RCS Capital Corp (NYSE:RCAP) announced that "it has terminated the previously disclosed definitive agreement to acquire Cole Capital Partners, LLC and Cole Capital Advisors, Inc. (together, "Cole Capital") from American Realty Capital Properties, Inc. Shares of RCS Capital Corp (NYSE:RCAP) declined to as low as $10.36 per share on November 6, 2014.
On November 6, 2014, NYSE:RCAP shares closed at $11.32 per share.
Those who purchased shares of RCS Capital Corp (NYSE:RCAP) 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