Third Avenue Investors: GPM Reminds Investors of the Upcoming Lead Plaintiff Deadline in the Class Action Lawsuit against Thi...
February 26 2016 - 10:30AM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the
March 29, 2016 deadline to file a lead plaintiff motion in
the class action filed on behalf of a class (the “Class”) of
investors who purchased Third Avenue Focused Credit Institutional
Fund (TFCIX) and Third Avenue Focused Credit Investor Fund (TFCVX)
(“Third Avenue” or the “Company”) securities between March 1,
2013 and December 10, 2015, inclusive (the “Class Period”).
Injured investors are encouraged to contact Lesley Portnoy,
Esquire, to discuss their legal claims in this matter.
The complaint alleges that the Company made materially false and
misleading statements, or otherwise breached its fiduciary duties
to investors, concerning Third Avenue’s liquidity and ability to
handle volatile market conditions coupled with investor
redemptions. While the Company informed investors that no more than
15% of its assets would be held in illiquid investments, the
Company in fact consistently held a high percentage of its assets
in illiquid investments, thereby exposing Third Avenue investors to
undisclosed risks. Investors were damaged when declining asset
prices and customer redemptions caused Third Avenue to suspend
customer redemptions and place the fund’s assets in a liquidating
trust.
If you purchased Third Avenue securities during the Class Period
you may move the Court no later than March 29, 2016 to ask
the Court to appoint you as lead plaintiff if you meet certain
legal requirements. To be a member of the Class you need not take
any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you
wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Lesley Portnoy,
Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
e-mail to shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by e-mail please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160226005162/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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