SHAREHOLDER ALERT: The Law Office of James C. Kelly Announces Investigation On Behalf of Investors in Prospect Capital Corporation

NEW YORK, May 29, 2014

On May 6, 2014, Prospect Capital disclosed that it may be required to restate its prior financial statements as certain of its wholly owned companies are investment companies for accounting purposes and must be consolidated.  An implication of the restatement, revealed by the Company, would be to "decrease [Prospect Capital's] historical net investment income by the amount of interest and structuring income paid by such wholly-owned companies in excess of the amount of income that can be reported as dividend income based on taxable earnings and profits."  Thus, as the Company failed to consolidate its wholly owned companies, it improperly inflated its historical net investment income.    

On this news, Prospect Capital common stock declined more than 5%, to close at $10.20 per share on May 7, 2014.

Investors in Prospect Capital with losses in excess of $10,000 are advised to contact James C. Kelly at (888)-643-7517 or jkelly@jckellylaw.com for more information concerning the investigation. 

The Law Office of James C. Kelly has extensive experience representing shareholders in securities class actions. Visit our website for additional information at http://www.jckellylaw.com

The Law Office of James C. Kelly
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New York, New York 10001
Tel: 212-920-5042
Toll Free Tel: 888-643-7517
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Email: jkelly@jckellylaw.com

Website: http://www.jckellylaw.com