NEWTOWN, Pa., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Edelson Lechtzin LLP is investigating potential violations of federal securities laws involving Carlyle Credit Income Fund (NYSE: CCIF) f/k/a Vertical Capital Income Fund (the “Fund”) (NYSE: VCIF) resulting from allegations of providing potentially misleading information to the investing public.
If you have non-public information that could assist in the investigation of the Fund or if you are a Fund investor who suffered a loss and would like to learn more, you can provide your information HERE.
You can also contact attorneys Eric Lechtzin or Marc Edelson of Edelson Lechtzin LLP by calling 844-563-5550 or via e-mail at elechtzin@edelson-law.com or medelson@edelson-law.com.
THE FUND: Carlyle Credit Income Fund is a closed-end fund that is managed externally. Its primary focus is on investing in equity and junior debt tranches of collateralized loan obligations (“CLOs”). These CLOs are secured by a portfolio consisting mainly of senior secured loans in the U.S., which have a significant number of distinct underlying borrowers across various industry sectors.
THE ALLEGED WRONGDOING: On January 12, 2023, the Fund announced that, if approved by a shareholder vote upon condition that the Fund sell at least 95% of its residential portfolio: (i) the Fund’s investment manager would be replaced by Carlyle Global Credit Investment Management L.L.C.; and (ii) the Fund’s investment mandate would change from investing in residential home loans to investing in equity and debt tranches of collateralized loan obligations.
THE REVELATION: On July 11, 2023, the Fund announced that it had sold most of its legacy loan portfolio for “aggregate proceeds lower than the book value of the combined assets….” As a result, the Fund revised its NAV to $8.27 per share. Shortly after, the Fund’s stock price fell $1.45 or 14.7% to close at $8.45 per share.
ABOUT EDELSON LECHTZIN LLP: Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: medelson@edelson-law.com
Email: elechtzin@edelson-law.com
Web: www.edelson-law.com
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
