INVESTOR ALERT: The Law Offices of Vincent Wong Remind Investors of Class Action Involving Third Avenue Focused Credit Instit...
March 22 2016 - 4:07PM
Business Wire
The Law Offices of Vincent Wong announce that a class action
lawsuit has been commenced in the USDC for the Central District of
California, Western Division, on behalf of investors who purchased
Third Avenue Focused Credit Institutional Fund & Investor Fund
(NASDAQ: TFCIX, TFCVX) securities between March 1, 2013 and
December 10, 2015.
Click here to learn about the case:
http://docs.wongesq.com/TFCIX-Info-Request-Form-1091. There
is no cost or obligation to you.
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 Vincent Wong, Esq. either
via email vw@wongesq.com, by telephone at 212.425.1140, or visit
http://docs.wongesq.com/TFCIX-Info-Request-Form-1091.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160322006524/en/
The Law Offices of Vincent WongVincent Wong, Esq.Tel.
212.425.1140Fax. 866.699.3880vw@wongesq.com
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