Prospect Capital Corporation ("Prospect" or the Company) is an American investment firm that deals in private debt and equity.

According to the law firm press release, the Complaint asserts that Prospect, through its officers and directors, made false and misleading statements and omissions regarding the Company's internal financial controls and its accounting for certain of its subsidiaries and the consolidation of those subsidiaries. These statements are alleged to have been false and misleading when made because: (i) the Company was suffering from grossly deficient internal controls and therefore was susceptible to accounting fraud; (ii) Defendants failed to disclose the true nature of the accounting irregularities regarding the accounting for its subsidiaries; and (iii) the Company's financial statements during the Class Period were inaccurate in numerous material respects. The improper accounting has been the subject of an SEC inquiry, and was done in violation of SEC policies.

On June 20, 2014, a Notice was filed by Plaintiff dismissing this action as to all Defendants.