Triangle (TCAP) Alert: Johnson Fistel Investigates Triangle Capital Corporation; Should Management be Held Accountable for Investors Losses?

SAN DIEGO, Nov. 17, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential claims on behalf of Triangle Capital Corporation ("Triangle") (NYSE: TCAP) shareholders. Triangle is a business development company specializing in private equity and mezzanine investments.

On November 2, 2017, Triangle announced quarterly results that included a lower-than-projected $0.36 per-share net investment income, and "meaningful write-downs of certain debt investments which previously have been carried below cost." Passport Food Group was carried at an 8% premium to par value last quarter. This quarter, it was marked at an 8% discount to par.

On the earnings call, Triangle CEO and CFO defended their turnaround efforts but cast the blame for the situation on the previous management team. "The adherence to a majority focused mezzanine investment strategy when, during a period of massive change in the market, other investment strategies were available which provided a better risk-reward equation, was the wrong strategy call," CEO Ashton Poole told analysts.

Analysts, on the conference call, asked whether the firm might consider pursuing clawbacks for bonuses given to former CEO Tucker and former Chief Investment Officer Brent Burgess, who left the company last year.

If you have information that could assist in this investigation, including past employees and others, or if you are a Triangle shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com

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SOURCE Johnson Fistel, LLP