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Case Status:    DISMISSED    
On or around 10/22/2018 (Notice of voluntarily dismissal)

Filing Date: July 06, 2018

According to the Complaint, Triangle Capital Corporation ("Triangle" or the "Company") is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States.

On April 3, 2018, Triangle and BSP Asset Acquisition I, LLC, a Delaware limited liability company and an affiliate of BSP ("Asset Buyer"), entered into an Asset Purchase Agreement (the "Asset Agreement"), pursuant to which, Asset Buyer will purchase from the Company the portfolio company investments of the Company held at December 31, 2017 (the "Proposed Transaction") for an aggregate purchase price equal to approximately $981.2 million in cash (the "Asset Consideration").

The Complaint alleges that the Asset Consideration appears inadequate, and the process by which Defendants agreed to consummate the Proposed Transaction is fundamentally unfair to Plaintiff and Triangle's other public stockholders.

The Complaint further alleges that on June 1, 2018, in order to convince Triangle's public common stockholders to
vote in favor of the Proposed Transaction, Defendants authorized the filing of a materially incomplete and misleading Schedule 14A Definitive Proxy Statement (the "Proxy") with the SEC, in violation of Sections 14(a) and 20(a) of the Exchange Act.

This case was voluntarily dismissed on October 22, 2018.


Sector: Financial
Industry: Investment Services
Headquarters: United States


Ticker Symbol: TCAP
Company Market: New York SE
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.
COURT: E.D. North Carolina
DOCKET #: 18-CV-00332
JUDGE: Hon. Louise Wood Flanagan
DATE FILED: 07/06/2018
CLASS PERIOD END: 07/06/2018
  1. Monteverde & Associates PC
  2. Ward Black Law
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available