NEW YORK, Jan. 13, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors of class action against Fifth Street Asset Management, Inc. ("Fifth Street" or the "Company") (Nasdaq: FSAM) and certain of its officers. The class action, filed in United States District Court, for the District of Connecticut on behalf of a class consisting of all persons or entities who purchased shares pursuant to and/or traceable to the Registration Statement and Prospectus issued in connection with FSAM's October 30, 2014 initial public offering (the "IPO"). Such investors are advised to contact Peretz Bronstein or his investor relations analyst, Yael Hurwitz at email@example.com or 212-697-6484.
The complaint alleges that FSAM, the credit-focused asset manager and the investment advisor for Fifth Street Finance Corp. ("FSC"), Fifth Street Senior Floating Rate Corp. ("FSFR"), and various private Fifth Street funds headquartered in Connecticut, and certain of its officers and directors violated the Securities Act of 1933.
The complaint claims that offering documents filed for the IPO contained materially false, untrue and misleading statements of fact and failed to disclose facts necessary to make the statements made therein not misleading, including, among other statements, that: (i) FSAM had $4.2 billion assets under management from FSC as of June 30, 2014, when in fact a substantial portion of FSC's portfolio had been impaired on a cost basis prior to the IPO; (ii) FSAM had increased its management fee revenues by a compound annual growth rate of nearly 50% year-over-year during the six months ended June 30, 2014 due to FSAM's "outstanding performance," when in fact the growth in fee revenue was largely due to the overstatement of FSC's assets and dilutive stock offerings detrimental to the Funds' shareholders; and (iii) FSAM had "high-quality and predictable earnings," when in fact FSAM's revenues were unsustainable and the result of conduct that placed FSAM's most important asset – its management contract with FSC – at risk.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Fifth Street you have until March 7, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
SOURCE Bronstein, Gewirtz & Grossman, LLC