Full Circle Capital Corporation (Nasdaq: FULL)


The firm is investigating potential legal claims against the board of directors of Full Circle Capital Corporation (“Full Circle” or the “Company”) (NASDAQ GM: FULL) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Great Elm Capital Corp., a company formed by Great Elm Capital Group, Inc. (“GEC”, formerly Unwired Planet, Inc.) (NASDAQ GS: GEC) and funds managed by MAST Capital Management, LLC (“MAST Capital”, collectively with GEC, the “Consortium”).

Under the terms of the agreement, Full Circle stockholders are expected to own approximately 38% of the combined Great Elm Capital Corp., based on a pro-forma net asset value in excess of $190 million as of March 31, 2016.

The investigation concerns whether Full Circle’s board of directors failed to adequately shop the Company and obtain the best possible value for Full Circle shareholders before entering into an agreement with the Consortium.

On July 28, 2016, Sims Capital Management LLC (“SCM”), owners of approximately 4.9% of Full Circle’s outstanding shares, filed a Schedule 13D with the United States Securities and Exchange Commission. In its filing, SCM indicated that it had sent three letters to Full Circle’s Board of Directors raising various issues with respect to: (i) the convoluted structure and complexity of the Proposed Merger, and (ii) raising specific issues with respect to the quality and pricing of certain of the MAST Capital assets proposed to be contributed to the Survivor in the Proposed Merger, particularly the securities of Avanti Communications PLC. In short, SCM believes that Full Circle shareholders will be better served by turning down the Proposed Merger, and then proceeding to liquidate the Company.

If you are a current shareholder and would like to discuss your options of exercising your rights as a shareholder, which include ensuring that the company is getting the highest possible price for the company, and that the board of directors will act in the best interest of the shareholders, please contact us.

Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.

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