NEW ORLEANS, May 29, 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 July 28, 2014 to file lead plaintiff applications in a securities class action lawsuit against Prospect Capital Corporation (Nasdaq:PSEC), if they purchased the Company's securities during the period between August 21, 2013 and May 6, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Prospect Capital 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 July 28, 2014.
About the Lawsuit
Prospect Capital and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
On May 6, 2014, Prospect Capital disclosed that the SEC informed the Company that its wholly owned companies were investment companies and for accounting purposes needed to be consolidated. The Company also disclosed that may have to restate prior financial statements to resolve the consolidation issue, which could potentially decrease its historical net investment income.
On this news, the price of Prospect Capital's shares fell by over 5%.
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.