Faruqi & Faruqi, LLP Launches An Investigation Against Fifth Street Finance Corp. (FSC) For Potential Breaches Of Fiduciary Duties By Its Board Of Directors
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Fifth Street Finance Corp. (“Fifth Street Finance” or the “Company”) (NasdaqGS: FSC) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the Company’s Restated Certificate of Incorporation.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on January 25, 2013, the Board of Directors recommends that Fifth Street Finance’s shareholders vote to approve an amendment to the Company’s Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 150,000,000 to 250,000,000 shares. The issuance of the additional shares could have a substantial dilutive effect on the shares of Fifth Street Finance common stock.
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Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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