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RCS Capital Corporation Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
[December 31, 2014]

RCS Capital Corporation Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors


Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed in the United States District Court for the Southern District of New York against RCS Capital Corporation ("RCS") (NYSE: RCAP) and several officers and directors for acts taken during the period of February 12, 2014 to October 31, 2014 (the "Class Period").



Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of RCS. If you are an affected RCS shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at [email protected], or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at [email protected]. There is no cost or fee to you.

According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that American Realty Capital Properties, Inc. ("American Realty") issued materially false and misleading financial statements as a result of a massive accounting scandal perpetuated and concealed by American Realty's senior management, and that RCS's proposed acquisition of Cole Capital from American Realty was at serious risk due to the fraud. On October 29, 2014, RCS announced that its financial statements were materially inaccurate concerning its financial position and the Cole Capital acquisition. RCS stock dropped significantly immediately following this announcement.


The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.


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