Please complete this form and list your purchase and sale transaction(s) for Triangle Capital Corporation (NYSE: TCAP) common stock between May 7, 2014 and November 1, 2017, inclusive (the “Class Period”):
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On November 21, 2017, the initial complaint in this securities class action was filed against Triangle Capital Corporation (“Triangle” or the “Company”), and certain of Triangle’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.
Lead Plaintiff alleges that defendants made materially false and misleading statements and failed to disclose material adverse information regarding the Company’s business, the productivity and strength of its portfolio and its internal controls. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Triangle’s investment professionals internally recommended moving away from mezzanine loan deals due to changes in the market occurring as early as 2013, which no longer made those investments attractive risk-reward opportunities; (ii) the Company’s former CEO, defendant Garland S. Tucker, III, ignoring the advice of Triangle’s investment professionals, caused the Company to continue to disproportionately invest in mezzanine debt to chase higher short-term yields, despite the increasingly poor quality of the loans and increasing risk of default and nonaccruals, and had sole authority to approve or reject investment opportunities on behalf of Triangle; (iii) the Company’s vintage of 2014 and 2015 investments was at substantial risk of non-accrual due to the poorer investment quality and deficient underwriting practices in place when the investments were made; (iv) Triangle failed to implement effective underwriting policies and practices to ensure that it received appropriate risk-adjusted returns on its investments; and (v) as a result of the foregoing, Triangle shares traded at artificially inflated prices during the Class Period and class members suffered significant losses and damages.
Current Status of Case:
On March 7, 2019, the Court granted defendants’ Motion to Dismiss. Plaintiffs filed an appeal with the United States Appeals Court for the Fourth Circuit on October 17, 2019. The appeal has been fully briefed and the Fourth Circuit has scheduled oral argument to take place on December 9, 2020.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; ; or via e-mail at firstname.lastname@example.org. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.