Levi & Korsinsky announces the filing of a class action lawsuit in the USDC for the Southern District of New York on behalf of shareholders of Fifth Street Finance Corp. (NASDAQGS: FSC) who purchased shares between July 7, 2014 and February 6, 2015.
The complaint alleges that during the Class Period, defendants engaged in a fraudulent scheme and course of business designed to artificially inflate Fifth Street Finance’s assets and investment income in order to increase its revenue. Specifically, the complaint alleges that, among other things, defendants pushed Fifth Street Finance into increasingly risky, speculative investments at unsustainable leverage levels, delayed writing down impaired investments in order to create the appearance of increasing revenues for Fifth Street Finance, and systematically overstated the income generated by Fifth Street Finance’s investments and the fair value of its portfolio, while simultaneously providing investors and the market with false and misleading portrayals of Fifth Street Finance’s business trends and expected performance. If you suffered a loss in Fifth Street Finance Corp. you have until November 30, 2015 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.
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