Investor Class Action Filed Against Triangle Capital Corporation for Securities Fraud Violations
Company Name: Triangle Capital Corporation
Court: United States District Court for the Eastern District of North Carolina
Case Number: 18-cv-00015
Judge: The Hon. Louise W. Flanagan
Class period: May 7, 2014 - November 1, 2017
Security Type:

Case Background:

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 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.

Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-844-887-9500 (toll free) or 1-610-667-7706
Or by e-mail at

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”):

You may also contact James Maro, Jr., Esq. or Adrienne Bell, Esq. at 610.667.7706 or toll free at 844.887.9500, or you may submit your information via email at, or you may click here to print a PDF of this form.

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# of Shares
Price per Share
Principal Amount
Amount Paid
Series or CUSIP
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of Triangle Capital Corporation (2018) prior to the Class Period?
Are you a current or former employee of Triangle Capital Corporation (2018)?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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