LONDON, July 13, 2011 /PRNewswire/ --
On July 12, 2011, a shareholder derivative action was filed in United States District Court - Southern District of New York - against the current and former directors of Tetragon Financial Group Limited and Tetragon Financial Group Master Fund Limited (together, "TFG"), TFG's investment manager, the principals of TFG's investment manager and an affiliated entity by a purported shareholder of Tetragon Financial Group Limited (the "Action").
The Action makes a series of allegations specifically with respect to performance fees charged by TFG's investment manager and asks, amongst other things, for money damages and equitable relief against the defendants, including the amendment and/or termination of the investment management agreement among TFG and its investment manager.
TFG and its board of directors believe that the Action is factually and legally without merit and intend to seek to have the Action dismissed as quickly as possible.
Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended investment company traded on Euronext Amsterdam by NYSE Euronext under the ticker symbol "TFG" that currently invests primarily through long-term funding vehicles such as collateralized loan obligations in selected securitized asset classes and aims to provide stable returns to investors across various interest rate and credit cycles.
This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of TFG have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act"), as amended, and may not be offered or sold in the United States or to US persons unless they are registered under applicable law or exempt from registration. TFG does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States. In addition, TFG has not been and will not be registered under the US Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act. TFG is registered in the public register of the Netherlands Authority for the Financial Markets under Section 1:107 of the Financial Markets Supervision Act ("FMSA") as a collective investment scheme from a designated country. This release constitutes regulated information ("gereglementeerde informatie") within the meaning of Section 1:1 of the FMSA.
For further information, please contact: TFG: Press Inquiries: UK - Brunswick Group David Wishnow/Yuko Thomas Andrew Garfield/Gill Ackers/Pip Green Investor Relations +44-20-7404-5959 email@example.com firstname.lastname@example.org US - Sard Verbinnen & Co. Jonathan Gasthalter/Carissa Ramirez +1-212-687-8080
SOURCE Tetragon Financial Group Limited