LONDON, June 19, 2013 /PRNewswire/ --
On June 18, 2013, a shareholder derivative action was filed in United States District Court - Southern District of New York - against the current and former directors of Tetragon Financial Group Limited and Tetragon Financial Group Master Fund Limited (together, "TFG"), TFG's investment manager, the principals of TFG's investment manager and other affiliated entities by a purported shareholder of Tetragon Financial Group Limited (the "Action").
The Action makes a series of allegations including with respect to the October 2012 acquisition by TFG of Polygon Management L.P. and asks, amongst other things, for money damages and equitable relief against the defendants, including the termination of the investment management agreement among TFG and its investment manager.
TFG and its board of directors believe that the Action is factually and legally without merit and intend to seek to have the Action dismissed as quickly as possible.
Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended company traded on NYSE Euronext in Amsterdam under the ticker symbol "TFG" that aims to provide stable returns to investors across various credit, equity, interest rate and real estate cycles. The company maintains two key business segments: an investment portfolio and an asset-management platform. Both segments cover a broad range of assets including bank loans, real estate, equities, credit and convertible bonds.
This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of TFG have not been and will not be registered under the U.S. Securities Act of 1933 (the "Securities Act"), as amended, and may not be offered or sold in the United States or to U.S. persons unless they are registered under applicable law or exempt from registration. TFG does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States. In addition, TFG has not been and will not be registered under the U.S. Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act. TFG is registered in the public register of the Netherlands Authority for the Financial Markets under Section 1:107 of the Financial Markets Supervision Act ("FMSA") as a collective investment scheme from a designated country. This release constitutes regulated information ("gereglementeerde informatie") within the meaning of Section 1:1 of the FMSA.
For further information, please contact:
David Wishnow/Yuko Thomas
Gill Ackers/Brian Buckley
SOURCE Tetragon Financial Group Limited