On or around 10/25/2019 (Other)
Filing Date: December 28, 2017
According to the law firm press release, the lawsuit alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Capitala Investment Advisors had been losing professional talent in both underwriting and portfolio management due to the waiving of its incentive fee; (2) such loss of talent negatively impacted the quality of the Company’s investment portfolio; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On March 1, 2018, this case was transferred to the Western District of North Carolina. On May 1, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on June 19. Defendants filed a Motion to Dismiss the amended Complaint on August 14. On August 15, 2019, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint. Plaintiff filed a Notice of Intent not to File a second amended Complaint on September 16.
Company & Securities Information
Defendant: Capitala Finance Corp.
Industry: Other (Mutual Fund)
Headquarters: United States
Ticker Symbol: CPTA
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Laurence Paskowitz, et al. v. Capitala Finance Corp., et al.