September 20, 2019 - The court denied the plaintiff's motion to file a second amended complaint and the case was dismissed.

March 28, 2019 - A motion for leave to file a second amended complaint was filed.

March 7, 2019 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

May 25, 2018 - A motion to dismiss the amended consolidated complaint was filed.

April 10, 2018 - An amended consolidated complaint was filed.

January 12, 2018 - The case was transferred to the U.S. District Court for the Eastern District of North Carolina.

November 21, 2017 - An investor in shares of Triangle Capital Corporation (NYSE: TCAP) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Triangle Capital Corporation in connection with certain allegedly false and misleading statements made between May 7, 2014 and November 1, 2017.

Raleigh, NC based Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. Triangle Capital Corporation reported that its annual Total Revenue declined from $121.29 million in 2015 to $113.68 million in 2016 and that its respective Net Income decreased from $47.86 million to $34.26 million.

According to the complaint the plaintiff alleges on behalf of purchasers of Triangle Capital Corporation (NYSE: TCAP) common shares between May 7, 2014 and November 1, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 7, 2014 and November 1, 2017, the defendants failed to disclose that, as early as 2013, Triangle Capital Corporation’s investment professionals had internally recommended moving away from mezzanine loan deals due to changes in the market that no longer made these investments attractive risk-reward opportunities. As a result, the Company’s entire vintage of 2014 and 2015 investments were at substantial risk of non-accrual because of the poor quality of the investments and deficient underwriting practices in place at the time of the investments, that as a consequence, Triangle Capital Corporation’s business, prospects and ability to maintain its dividend level were materially impaired, and that as a result of defendants’ false statements and omissions between May 7, 2014 and November 1, 2017, the price of Triangle Capital Corporation stock was artificially inflated, reaching a high of more than $28 per share.

On August 2, 2017, Triangle Capital Corporation announced its financial results for the quarter ended June 30, 2017, revealing that the amount of full non-accrual assets in the Company’s portfolio had increased to 5.4% and 2.5% as a percentage of the Company’s total portfolio at cost and at fair value, respectively. Moreover, Triangle Capital Corporation disclosed that it had moved two investments to payment-in-kind non-accrual status during the quarter.

On November 2, 2017, Triangle Capital Corporation announced quarterly results that included a lower-than-projected $0.36 per-share net investment income, and meaningful write-downs of certain debt investments which previously have been carried below cost. While the Company's investment in Passport Food Group ( Passport ) was carried at an 8% premium to par in the previous quarter, it was marked at an 8% discount to par for Triangle Capital Corporation's most recent quarter. The Company cited an unexpected loss in Passport's product line, resulting in lower sales and an overall performance decline.

Shares of Triangle Capital Corporation (NYSE: TCAP) declined from $12.40 per share on November 1, 2017 to $8.91 per share on November 2, 2017.