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SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
FOUR TIMES SQUARE
NEW YORK 10036-6522
________
TEL: (212) 735-3000
FAX: (212) 735-2000
www.skadden.com
August 26, 2016
VIA EDGAR
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549
RE: Form 40-33– Civil Action Document Filed Against
Certain Directors and Officers of American Capital, Ltd.
(File No. 814-00149)
Ladies and Gentlemen:
Pursuant to Section 33 of the Investment Company Act of 1940, as amended,
enclosed for filing please find a copy of the Consolidated Amended Class Action
Complaint filed in the Circuit Court for Montgomery County, Maryland (In Re
American Capital, Ltd., Shareholder Litigation) (the “Complaint”) against the
members of the Board of Directors of American Capital, Ltd. (the “Company”).
Note that the Complaint amends and consolidates four complaints previously
filed by the Company pursuant to Section 33 of the Investment Company Act of 1940:
(i) the class action complaint filed in the Circuit Court for Montgomery
County, Maryland by Larry Sutton on behalf of himself and all others
similarly situated against the Company, American Capital Asset
Management, LLC, American Capital Mortgage Management, LLC,
American Capital Agency Corp., Malon Wilkus, Mary C. Baskin, Neil
M. Hahl, Philip R. Harper, Stan Lundine, Kristen L. Manos, Susan K.
Nestegard, Kenneth D. Peterson, Jr., Alvin N. Puryear, David G.
Richards, Ares Capital Corporation, Orion Acquisition Sub, Inc., Ivy
Hill Asset Management, L.P., Ivy Hill Asset Management GP, LLC,
and Ares Capital Management LLC;
(ii) the class action complaint filed in the Circuit Court for Montgomery
County, Maryland by Renee J. Bercury, Renee J. Bercury IRA, William
2
958989-CHISR01A - MSW
T. Bercury, William T. Bercury IRA, Atha P. Bercury, John G. Bercury
and Bercury Homes, Ltd., on behalf of themselves and all others
similarly situated, against Malon Wilkus, Philip R. Harper, Stan
Lundine, Neil M. Hahl, Alvin N. Puryear, Kenneth D. Peterson, Jr.,
Mary C. Baskin, Susan K. Nestegard, Kristin L. Manos, David G.
Richards, Ares Capital Corporation, Orion Acquisition Sub, Inc., Ivy
Hill Asset Management, L.P., Ivy Hill Asset Management GP LLC, the
Company, American Capital Agency Corp, American Capital Asset
Management, LLC and American Capital Mortgage Management, LLC;
(iii) the class action complaint filed in the Circuit Court for Montgomery
County, Maryland by Garry Tischler, individually and on behalf of all
others similarly situated, against the Company, American Capital Asset
Management, LLC, American Capital Mortgage Management, LLC,
American Capital Agency Corp, Malon Wilkus, Mary C. Baskin, Neil
M. Hahl, Philip R. Harper, Stan Lundine, Kristin L. Manos, Susan K.
Nestegard, Kenneth D. Peterson, Jr., Alvin N. Puryear, David G.
Richards, Ares Capital Corporation, Orion Acquisition Sub, Inc., Ivy
Hill Asset Management, L.P., Ivy Hill Asset Management GP, LLC and
Ares Capital Management, LLC; and
(iv) the class action complaint filed in the Circuit Court for Montgomery
County, Maryland by Paul Barba, on behalf of himself and all other
similarly situated stockholders of American Capital, Ltd. (the
"Company"), against Malon Wilkus, Philip R. Harper, David G.
Richards, Mary Baskin, Neil M. Hahl, Stan Lundine, Kristen L. Manos,
Susan K. Nestegard, Kenneth D. Peterson, Jr., Alvin N. Puryear, Ares
Capital Corporation, Orion Acquisition Sub, Inc., Ares Management,
L.P., American Capital Mortgage Management, LLC, American
Capital Agency Corp., American Capital Asset Management, LLC, Ivy
Hill Asset Management, L.P., Ivy Hill Asset Management GP, LLC,
Elliott Associates, L.P. and Elliott International, L.P.
Please do not hesitate to contact me at (212) 735-3406 if you have any
questions regarding this filing.
Sincerely,
/s/ Michael K. Hoffman
Michael K. Hoffman
Enclosure:
cc: Samuel A. Flax, American Capital, Ltd.