NEW YORK, Nov. 19, 2015 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Fifth Street Finance Corp. (“Fifth Street Finance”) (NASDAQ:FSC) between July 7, 2014 and February 6, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. If you purchased or otherwise acquired Fifth Street Finance securities between July 7, 2014 and February 6, 2015, your rights may be affected by this action. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that during the Class Period, defendants engaged in a fraudulent scheme and course of business designed to artificially inflate Fifth Street Finance’s assets and investment income in order to increase its revenue. Specifically, the complaint alleges that, among other things, defendants pushed Fifth Street Finance into increasingly risky, speculative investments at unsustainable leverage levels, delayed writing down impaired investments in order to create the appearance of increasing revenues for Fifth Street Finance, and systematically overstated the income generated by Fifth Street Finance’s investments and the fair value of its portfolio, while simultaneously providing investors and the market with false and misleading portrayals of Fifth Street Finance’s business trends and expected performance.
If you suffered a loss in Fifth Street Finance you have until November 30, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
Source:Levi & Korsinsky, LLP