LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the March 29, 2016 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “Class”) of investors who purchased Third Avenue Focused Credit Institutional Fund (TFCIX) and Third Avenue Focused Credit Investor Fund (TFCVX) (“Third Avenue” or the “Company”) securities between March 1, 2013 and December 10, 2015, inclusive (the “Class Period”). Injured investors are encouraged to contact Lesley Portnoy, Esquire, to discuss their legal claims in this matter.
The complaint alleges that the Company made materially false and misleading statements, or otherwise breached its fiduciary duties to investors, concerning Third Avenue’s liquidity and ability to handle volatile market conditions coupled with investor redemptions. While the Company informed investors that no more than 15% of its assets would be held in illiquid investments, the Company in fact consistently held a high percentage of its assets in illiquid investments, thereby exposing Third Avenue investors to undisclosed risks. Investors were damaged when declining asset prices and customer redemptions caused Third Avenue to suspend customer redemptions and place the fund’s assets in a liquidating trust.
If you purchased Third Avenue securities during the Class Period you may move the Court no later than March 29, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by e-mail please include your mailing address, telephone number and number of shares purchased.
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