SHAREHOLDER ALERT: The Law Office of James C. Kelly Announces Investigation On Behalf of Investors in Prospect Capital Corpor...

Date : 05/29/2014 @ 10:00AM
Source : PR Newswire (US)
Stock : Prospect Capital Corp. (PSEC)
Quote : 6.83  -0.03 (-0.44%) @ 4:00PM
Prospect Capital Corporation share price Chart

SHAREHOLDER ALERT: The Law Office of James C. Kelly Announces Investigation On Behalf of Investors in Prospect Capital Corpor...

Prospect Capital Corporation (NASDAQ:PSEC)
Historical Stock Chart

5 Years : From May 2013 to May 2018

Click Here for more Prospect Capital Corporation Charts.

NEW YORK, May 29, 2014 /PRNewswire/ -- The Law Office of James C. Kelly is investigating potential claims on behalf of investors who purchased shares of Prospect Capital Corporation common stock (NASDAQ: PSEC), concerning possible violations of federal securities laws.

On May 6, 2014, Prospect Capital disclosed that it may be required to restate its prior financial statements as certain of its wholly owned companies are investment companies for accounting purposes and must be consolidated.  An implication of the restatement, revealed by the Company, would be to "decrease [Prospect Capital's] historical net investment income by the amount of interest and structuring income paid by such wholly-owned companies in excess of the amount of income that can be reported as dividend income based on taxable earnings and profits."  Thus, as the Company failed to consolidate its wholly owned companies, it improperly inflated its historical net investment income.    

On this news, Prospect Capital common stock declined more than 5%, to close at $10.20 per share on May 7, 2014.

Investors in Prospect Capital with losses in excess of $10,000 are advised to contact James C. Kelly at (888)-643-7517 or jkelly@jckellylaw.com for more information concerning the investigation. 

The Law Office of James C. Kelly has extensive experience representing shareholders in securities class actions. Visit our website for additional information at http://www.jckellylaw.com

The Law Office of James C. Kelly
244 5th Avenue, Suite K-278
New York, New York 10001
Tel: 212-920-5042
Toll Free Tel: 888-643-7517
Toll Free Fax: 888-224-2078
Email: jkelly@jckellylaw.com

Website: http://www.jckellylaw.com

Attorney Advertising: Prior Results Do Not Guarantee A Similar Outcome.

SOURCE The Law Office of James C. Kelly

Copyright 2014 PR Newswire

Latest PSEC Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:43 V:us D:20180525 20:25:21