NOTICE TO SIERRA INCOME FUND INVESTORS: Investment Fraud Lawyers KlaymanToskes Comment on Recent Temporary Suspension of Distributions Payments to Investors

KANSAS CITY, Mo.--()--KlaymanToskes (“KT”) comments on recent Sierra Income Corporation (“Sierra”) announcement of the “temporary suspension” of cash and reinvestment plan distributions beginning with the month ending April 30, 2020. According to securities attorney, Lawrence L. Klayman, “The suspension of cash distributions to investors has occurred after a prolonged decline in the quality of Sierra Income Fund’s investment loan portfolio, which is evidenced by the drop in the Fund’s Net Asset Value.” On May 5, 2020, Sierra announced the merger agreement between Sierra and Medley Capital (NYSE:MCC) was terminated citing “the changed circumstances and the unpredictable economic conditions resulting from the global health crisis caused by the coronavirus (COVID-19) pandemic.”

Lawrence L. Klayman explains, “Sierra Income Fund is a non-traded Business Development Company with a significantly higher level of fees, expenses, and commissions than traditional fixed-income investments, which increases the breakeven point for investment returns.” Mr. Klayman continues, “These factors are not easily understood by investors who lack the sophistication to determine the nature of the risks associated with the strategy.” Recommended investments in the Sierra Income Fund are unsuitable investments for investors with income investment objectives and a conservative or moderate risk tolerance. Financial advisors who fail to adequately disclose all relevant costs and risks associated with Sierra Income Fund may be in violation of securities rules and regulations, including misrepresentations and breach of duty to their clients amongst other potential claims.

The sole purpose of this release is to investigate investment advice provided by full-service brokerage firms related to Sierra Income Fund. Sierra Income Investors with accounts at full-service brokerage firms, and have information relating to the handling of their investment portfolios are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131, and download our Special Investor Report.

About KlaymanToskes

KT is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation, on behalf of retail and institutional investors throughout the world in large and complex securities matters. KT has office locations in California, Florida, New York and Puerto Rico.

Destination: https://klaymantoskes.com/notice-to-sierra-income-fund-investors

Contacts

KlaymanToskes
Lawrence L. Klayman, Esq., (561) 542-5131
lklayman@klaymantoskes.com
www.klaymantoskes.com

Contacts

KlaymanToskes
Lawrence L. Klayman, Esq., (561) 542-5131
lklayman@klaymantoskes.com
www.klaymantoskes.com