NEW YORK, Nov. 15, 2017 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Triangle Capital Corporation (“Triangle Capital” or the “Company”) (NYSE: TCAP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Triangle Capital and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 2, 2017, Triangle Capital announced quarterly results that included a lower-than-projected $0.36 per-share net investment income, and “meaningful write-downs of certain debt investments which previously have been carried below cost.” While the Company’s investment in Passport Food Group (“Passport”) was carried at an 8% premium to par in the previous quarter, it was marked at an 8% discount to par for Triangle Capital’s most recent quarter. The Company cited an unexpected loss in Passport’s product line, resulting in lower sales and an overall performance decline.
On these disclosures, Triangle Capital’s share price fell $2.57, or 20.98%, to close at $9.68 on November 2, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
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SOURCE Pomerantz LLP