NEW ORLEANS, Feb. 10, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 11, 2014 to file lead plaintiff applications in a securities class action lawsuit against Nicholas Financial Inc. (Nasdaq:NICK), on behalf of holders of its common stock as of December 18, 2013. This action is pending in the United States District Court for the Middle District of Florida.
What You May Do
If you purchased stock of Nicholas Financial and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 11, 2014.
About the Lawsuit
Nicholas Financial's Board of Directors, Prospect Capital Corporation, and certain of its affiliates (collectively, "Prospect Capital") are charged with issuing materially false and misleading statements in connection with the proposed acquisition of Nicholas Financial by Prospect Capital.
On December 18, 2013, Nicholas Financial announced that it had entered into an agreement by which Prospect Capital will acquire Nicholas Financial. On January 14, 2014, Nicholas Financial filed a Registration Statement with the SEC, which allegedly omits and/or misrepresents material information regarding the expected value Nicholas Financial's shareholders would gain in the merger and the valuation methodologies used by Nicholas Financial's financial advisor in its fairness opinion for the Board, in violation of federal securities laws.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.