Triangle Capital Beats Investor Bid to Revive Securities Suit

Triangle Capital Corp. remains free of a would-be class suit alleging it misled investors about risks after the Fourth Circuit on Monday affirmed the lower court’s dismissal of the case with prejudice.

The business development company’s shareholders didn’t raise a strong inference that Triangle Capital—known as Barings BDC Inc. since a 2018 transaction—acted with the state of mind needed for liability, the U.S. Court of Appeals for the Fourth Circuit said.

The investors alleged that Triangle Capital knew that certain investment deals were more risky than disclosed in 2014 and 2015 and made false representations about deal quality. ...