INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Third Avenue Focused Credit Institutional Fund and Investor Fun...
February 16 2016 - 1:21PM
The following statement is being issued by Levi & Korsinsky,
LLP:
To: All persons or entities who
purchased or otherwise acquired securities of
Third Avenue Focused Credit Institutional Fund &
Investor Fund (“Third Avenue”) (Nasdaq:TFCIX)
(Nasdaq:TFCVX) between March 1, 2013 and December 10,
2015.
You are hereby notified that a
securities class action lawsuit has been commenced in the USDC for
the Central District of California, Western Division. If you
purchased or otherwise acquired Third Avenue between March 1, 2013
and December 10, 2015, your rights may be affected by this action.
To get more information go to:
http://zlk.9nl.com/third-avenue.
The complaint alleges that, in violation of the
Securities Act of 1933, Third Avenue’s prospectuses and
registration statements contained material false and/or misleading
statements regarding the Fund’s liquidity. In particular, the
complaint alleges that Third Avenue Focused Credit Fund promised
investors that it would place no more than 15% of its assets in
illiquid securities, securities that could not be sold promptly at
or near its carrying value. An analysis of the Fund’s holdings in
2013, 2014, and 2015 has revealed that the Fund consistently held
more than 15% of its net assets in illiquid securities. The Fund’s
excessive illiquidity meant that it could not promptly sell assets
to meet growing redemptions without unloading them at fire sale
prices, leading it to suspend redemptions and shut down the Fund on
December 10, 2015.
If you suffered a loss in Third Avenue
you have until March 29, 2016 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 Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or visit
http://zlk.9nl.com/third-avenue.
Levi & Korsinsky is a national firm with
offices in New York, New Jersey, California, Connecticut, and
Washington D.C. The firm’s attorneys have extensive expertise and
experience representing investors in securities litigation
involving financial fraud, and have recovered hundreds of millions
of dollars for aggrieved shareholders. Attorney advertising. Prior
results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
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