NEW YORK, Nov. 22, 2006 (PRIMEZONE) -- Counsel for Class Plaintiff, Wechsler Harwood LLP, today issued the following:
A class action has been commenced in the United States District Court for the Southern District of New York on behalf of all persons who purchased the common stock of Brantley Capital Corporation (Pink Sheets:BBDC) ("Brantley" or the "Company") between August 14, 2003 and October 24, 2005, inclusive (the "Class Period"). The complaint charges Brantley and certain of its officers with violations of federal securities laws by making misrepresentations about the Company's valuation and financial statements. Brantley grossly overvalued its investment in a material asset. When properly valued, that asset was worth less than 1% when the Company valued it. As a result, the Company's stock fell from a Class Period high of approximately $12 per share to a price of approximately $2, and the Company has now started its intent to liquidate.
The plaintiff seeks to recover damages on behalf of all purchasers of Brantley common stock during the Class Period. Plaintiff is represented by the law firm of Wechsler Harwood LLP, which has extensive experience in prosecuting investor class actions involving financial fraud. Wechsler Harwood LLP has prosecuted securities, antitrust and consumer class actions for over 15 years. For more information about Wechsler Harwood LLP, please visit its website at www.whesq.com.
If you are a member of the Class described above, you may, no later than January 16, 2007, move the Court to serve as lead plaintiff of the Class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this case or your rights or interests, please contact: Virgilio Soler, Jr., at Wechsler Harwood LLP, 488 Madison Avenue, New York, New York 10022 at (toll free) 877-935-7400 or by e-mail at vsoler@whesq.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca