NEW YORK, Dec. 30, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased RCS Capital Corporation ("RCAP" or the "Company") (NYSE: RCAP ) securities between February 12, 2014 and October 31, 2014.
For more information, click here: http://zlk.9nl.com/rcs-capital-rcap .
The complaint alleges that RCAP made false and/or misleading statements and/or failed to disclose that: (a) American Realty Capital Properties, Inc. ("ARCP") financial statements were materially false and misleading as a result of a massive accounting scandal perpetrated and concealed by senior management; (b) the Company's announced acquisition of Cole Capital from ARCP was at serious risk due to the fraud, as was its revenue stream from its relationship with ARCP; (c) as a result, the Company's public statements pertaining to its financial position and its acquisition of Cole Capital were materially false and misleading.
On October 29, 2014, ARCP disclosed that its financial statements were materially inaccurate and must be restated, and admitted to knowing of certain errors it knowingly did not correct.
If you suffered a loss in RCAP you have until February 27, 2015 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. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/rcs-capital-rcap .
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits and have helped shareholders recover millions of dollars in losses over the years. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.com
