NEW ORLEANS, Jan. 12, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until January 22, 2018 to file lead plaintiff applications in a securities class action lawsuit against Triangle Capital Corporation (NYSE:TCAP), if they purchased the Company’s shares between May 7, 2014 and November 1, 2017, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
Triangle Capital investors should visit us at https://www.claimsfiler.com/cases/view-triangle-capital-corporation-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Triangle Capital and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 1, 2017, Triangle revealed a decline in the fair value of its investment portfolio of nearly 7%, $8.9 million in net realized losses and $65.8 million in net unrealized depreciation for the quarter. Further, seven investments were moved to full non-accrual status and investments on non-accrual had ballooned to 13.4% and 4.7% of Triangle’s total portfolio at cost and fair value, respectively.
On this news, the price of Triangle shares plummeted nearly 21%, or $2.57 per share.
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