Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Carlyle Credit Income Fund (NYSE: CCIF) f/k/a Vertical Capital Income Fund (“Carlyle” or the “Company”) (NYSE: VCIF) on behalf of Carlyle stockholders. Our investigation concerns whether Carlyle has violated the federal securities laws and/or engaged in other unlawful business practices.
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The Fund was a publicly listed close-end fund that invested in residential home loans. On January 12, 2023, the Fund announced it had entered into a transaction agreement with an affiliate of global investment firm Carlyle. Pursuant to the agreement, among other things, the Fund’s current investment manager (Oakline) would be replaced by Carlyle Global Credit Investment Management L.L.C., and the Fund’s investment mandate would change to invest in equity and debt tranches of collateralized loan obligations (CLOs). The transaction was subject to approval by a vote of the Fund’s shareholders and was conditioned on the Fund selling at least 95% of its legacy residential loan portfolio.
On July 11, 2023, during market hours, the Fund announced that it had sold a significant majority of its legacy loan portfolio for “aggregate proceeds lower than the book value of the combined assets…,” and as a result, the Fund had revised its NAV to $8.27 per share.
On this news, the Fund’s share price fell $1.45 per share, from a closing price on July 10, 2023 of $9.90 per share, to a closing price on July 11, 2023 of $8.45 per share, a decline of nearly 14.7% on heavy volume.
If you purchased or otherwise acquired Carlyle shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
