UPCOMING DEADLINE: Levi & Korsinsky, LLP Notifies Shareholders of Third Avenue Focused Credit Institutional Fund & Investor F...
March 24 2016 - 1:58PM
Business Wire
The following statement is being issued by Levi & Korsinsky,
LLP:
To: All persons or entities who purchased or otherwise
acquired securities of Third Avenue Focused Credit Institutional
Fund & Investor Fund (“Third Avenue”) (TFCIX, TFCVX)
between March 1, 2013 and December 10,
2015.
You are hereby notified that a securities class action
lawsuit has been commenced in the USDC for the Central District of
California, Western Division. To get more information go to:
http://zlk.9nl.com/third-avenue.
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 Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or visit
http://zlk.9nl.com/third-avenue.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, California, Connecticut, and Washington D.C. The
firm’s attorneys have extensive expertise and experience
representing investors in securities litigation involving financial
fraud, and have recovered hundreds of millions of dollars for
aggrieved shareholders. Attorney advertising. Prior results do not
guarantee similar outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20160324006169/en/
Levi & Korsinsky, LLPEduard Korsinsky, Esq.Tel:
212-363-7500Toll Free: 877-363-5972Fax: 212-363-7171www.zlk.com
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