March 29 Deadline Alert: Law Offices of Howard G. Smith Reminds Third Avenue Focused Credit Fund Investors of Upcoming Lead P...
28 Mars 2016 - 4:30PM
Business Wire
Law Offices of Howard G. Smith reminds investors of the
upcoming March 29, 2016 deadline to file a lead
plaintiff motion in the class action filed on behalf 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”).
Third Avenue investors are encouraged to contact the Law Offices of
Howard G. Smith to discuss their legal rights.
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, you may move the Court
no later than March 29, 2016 to request
appointment as lead plaintiff. 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 Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol
Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, toll-free at (888) 638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website
at http://www.howardsmithlaw.com.
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/20160328005046/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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