LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC announces a class action lawsuit has been filed against Fifth Street Finance Corp. (“Fifth Street” or the “Company”) (Nasdaq: FSC) concerning possible violations of federal securities laws between July 7, 2014, and February 6, 2015. Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm in advance of the November 24, 2015, lead plaintiff deadline motion.
According to the complaint, the Company made misleading statements and/or failed to disclose that it was engaged in a fraudulent scheme to artificially inflate Fifth Street Finance Corp.’s assets and investment income to increase Fifth Street Asset Management’s revenue by: (a) pushing Fifth Street Finance Corp. into increasingly risky investments at unsustainable leverage levels; (b) delaying the write down of impaired investments to create the appearance of increasing revenues for Fifth Street Asset Management; and (c) systematically overstating the income generated by Fifth Street Finance Corp.’s investments and the fair value of its portfolio, while simultaneously providing the investing public with false and misleading portrayals of Fifth Street Finance Corp.’s business trends and expected performance.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles.
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