is a boutique law firm handling complex and class action litigation, including shareholder derivative litigation, securities class actions, data breach and consumer class actions.

Current Securities Class Action Cases

Federman & Sherwood regularly posts press releases about new class action securities cases, which includes the class period and deadlines for appointment of lead plaintiffs.  Please review any of the case listings  below, and if you bought a security during the class period, we invite you to return an investor certification to our office. Our link to an investor certification for any of the cases can be found below each respective press release on that company.  Once completed, please return to our office by email to or fax to (405) 239-2112. 

Current Cases

Fifth Street Finance Corp. [NASDAQ: FSC]

Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Fifth Street Finance Corp.

 Oklahoma City, OK (October 2, 2015) – On October 1, 2015, a securities class action lawsuit was filed in the United States District Court for the Southern District of New York against Fifth Street Finance Corp. (NASDAQ: FSC).  The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is July 7, 2014 through February 6, 2015.  More specifically, this litigation was filed because on February 9, 2015, the company reported its fiscal results for the quarter ended December 31, 2014. Fifth Street revealed that, around the time its executives were taking Fifth Street Asset Management ("FSAM") public, it had moved $106 million worth of investments to non-accrual status with an additional $17 million likely to be designated non-accrual in the subsequent quarter, which together constituted about 5% of the Company's entire debt investment portfolio on a cost basis. The Company also revealed that, even though the total assets of FSC's investment portfolio had continued to increase to nearly $3 billion by quarter end, the net investment income received by the Company had actually decreased by 6% compared to the prior quarter. And, despite having announced a 10% dividend increase only four months before taking FSAM public, Fifth Street declared that it would issue zero dividends for February 2015, while decreasing future dividend payments by more than 30% as part of a more "conservative" dividend policy.

On this news, the price of Fifth Street common stock dropped $1.27 per share on February 9, 2015 to close at $7.22 per share.

Plaintiff seeks to recover damages on behalf of all Fifth Street Finance Corp. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above.  You may move the Court no later than Monday, November 30, 2015 to serve as a lead plaintiff for the entire Class.  However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

To join this class action, click here to obtain an investor certification.  Once complete, please email this form to, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN:  Robin.


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