NEW YORK, Jan. 12, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of RCS Capital Corporation ("RCS" or the "Company") (NYSE: RCAP), concerning whether the board has breached its fiduciary duties to shareholders.
On December 29, 2014, a securities class action was filed in the U.S. District Court for the Southern District of New York against the Company, case number 1:14-cv-10136. The complaint alleges that the Company failed to disclose material information in connection with a recent acquisition of Cole Capital from American Realty Capital Properties, Inc. ("ARCP"). According to the complaint, ARCP's financial statements were misleading and fraudulent and there was a serious risk that RCS's revenue stream from its relationship with ARCP was in jeopardy.
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 RCS 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