NEW YORK, Feb. 12, 2015 (GLOBE NEWSWIRE) -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased RCS Capital Corporation ("RCS" or the "Company") (NYSE:RCAP) securities between February 12, 2014 and October 31, 2014.
Click here to learn about the case: http://docs.wongesq.com/RCAP-Info-Request-Form-603. There is no cost or obligation to you.
The complaint alleges that RCS made false and/or misleading statements and/or failed to disclose that: (a) American Realty Capital Properties, Inc.'s ("ARCP") financial statements were materially false and misleading as a result of a massive accounting scandal perpetrated and concealed by senior management; (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; (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. On October 29, 2014, ARCP disclosed that its financial statements were materially inaccurate and must be restated, and admitted to knowing of certain errors it knowingly did not correct.
If you suffered a loss in RCS Capital you have until February 27, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email vw@wongesq.com, by telephone at 212.425.1140, or visit http://docs.wongesq.com/RCAP-Info-Request-Form-603.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.