NEW YORK, April 8, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Fifth Street Finance Corp. ("Fifth Street Finance" or the "Company") (NASDAQ: FSC), concerning whether the board has breached its fiduciary duties to shareholders.
A securities fraud class action has been filed against Fifth Street Finance in the U.S. District Court for the Southern District of New York, Case No. 15-cv-7759. According to the plaintiffs in the securities fraud class action, certain insiders of Fifth Street Finance engaged in a fraudulent scheme designed to artificially inflate Fifth Street Finance's assets and investment income in order to increase the revenue of Fifth Street Asset Management, Inc., an entity that provides investment advisory and management serves to Fifth Street Finance.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Fifth Street Finance shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP