HARTFORD, Conn., Nov. 28, 2006 (PRIME NEWSWIRE) -- The law firm of Schatz Nobel Izard, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased or otherwise acquired the common stock of Brantley Capital Corporation ("Brantley" or the "Company") (Pink Sheets:BBDC) between August 14, 2003 and October 24, 2005, inclusive, (the "Class Period").
The Complaint alleges that Brantley and certain of its officers and directors violated federal securities laws by issuing a series of materially false statements concerning the Company's valuation. Specifically, Brantley grossly overvalued its investment in a material asset. As a result, Brantley's stock fell from a Class Period high of approximately $12 per share to a price of approximately $2, and the Company has now stated its intent to liquidate.
If you are a member of the class, you may, no later than January 16, 2007, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz Nobel Izard has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, class action cases in general, and your rights, please contact Schatz Nobel Izard toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com, or visit our website: www.snlaw.net.