TFCVX & TFCIX INVESTORS NOTICE: Lieff Cabraser Reminds Investors of Deadline in Class Action Against Third Avenue Management ...

The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the upcoming deadline to move for appointment as lead plaintiff in Third Avenue Management LLC securities class litigation brought on behalf of investors who purchased or otherwise acquired the Investor class shares (TFCVX) or the Institutional class shares (TFCIX) of Third Avenue Focused Credit Fund (“Third Avenue” or the “Fund”) between March 1, 2013 and December 10, 2015, inclusive (the “Class Period”) pursuant or traceable to one of Third Avenue’s registration statements or prospectuses.

If you purchased or acquired Third Avenue Investor or Institutional class shares during the Class Period, you may move the court for appointment as lead plaintiff by no later than March 29, 2016. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

Third Avenue investors who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.

According to the lawsuit, Third Avenue promised investors that it would place no more than 15% of its assets in illiquid securities, those which could not be sold promptly at or near their carrying value. However, an analysis of the Fund’s holdings in 2013, 2014, and 2015 has revealed that the Fund consistently held more than 15% of its net assets in illiquid securities. The Fund’s excessive illiquidity meant that it could not promptly sell certain assets to meet increasing amounts of redemption requests without selling the assets at drastically lowered prices. Third Avenue’s excessive illiquidity led it to suspend redemptions and shut down the Fund on December 10, 2015. That day, TFCVX closed at $6.48 per share and TFCIX closed at $6.46 per share, more than 45% below their highest prices during the Class Period.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP is a nationally recognized law firm committed to advancing investor rights and promoting corporate responsibility.

For thirteen years, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs’ law firms in the nation. Best Lawyers and U.S. News have also named Lieff Cabraser as a “Law Firm of the Year” each year the publications have given this award to law firms.

For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160309006107/en/

Source/Contact for Media Inquiries Only:Sharon M. Lee, 800-541-7358Lieff Cabraser Heimann & Bernstein, LLP