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Fifth Street Finance: Proposed settlement of shareholder lawsuit-UPDATED

  • Fifth Street Finance (FSC) issued a press release consisting of the proposed settlement of a major lawsuit against the BDC, its External Manager Fifth Street Asset Management (FSAM) and  various officers and Directors.
  • The judge on the case  issued an order regarding the proposed settlement on September 21, 2016, finding it “within the range of possible approval” and that “notifying FSC’s securities holders and scheduling a hearing to consider approval of the proposed Settlement were warranted”.  The Preliminary Approval Order is available at http://fsc.fifthstreetfinance.com.”
  • Shareholders may approve the settlement and do nothing, or contest any provision by November 29th, 2016.
  • For a full discussion of the settlement, see the BDC Activist article on the subject.