NEW YORK, Jan. 8, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein") announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors who purchased RCS Capital Corporation ("RCAP" or the "Company") (NYSE:RCAP) securities between February 12, 2014 and October 31, 2014, inclusive. The deadline to file a lead plaintiff motion is February 27, 2015.
The complaint alleges that RCAP made false and/or misleading statements and/or failed to disclose that: (a) American Realty Capital Properties, Inc. ("ARCP") financial statements were materially false and misleading as a result of a massive accounting scandal perpetrated and concealed by senior management including common board members; (b) the Company's announced acquisition of Cole Capital from ARCP was at serious risk due to the fraud, as was its revenue stream from its relationship with ARCP; and (c) as a result, the Company's public statements pertaining to its financial position and its acquisition of Cole Capital were materially false and misleading.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has over 70 attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you have suffered a loss on shares purchased within the class period and/or currently hold shares of RCS Capital Corporation, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the "RCAP investigation."
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