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Komfie Manalo, Opalesque Asia: An international law firm has initiated a class action suit against LJM Funds Management and its executives for allegedly making false and misleading statements in addition to failing to disclose materials in connection with the sale of the LJM Preservation and Growth Fund during the period between February 28, 2015 and February 7, 2018.
Robbins Geller Rudman & Dowd LLP said that the LJM Funds, executives, Two Roads Shared Trust and Northern Lights Distributors violated the Securities Act of 1933. LJM Funds is the investment advisor to the Preservation Fund, a mutual fund that was marketed to investors seeking lower risk and moderate growth through a more conservative volatility trading strategy that would preserve capital and avoid the massive risks of aggressive hedge funds seeking greater returns.
Robbins Geller said in a statement "Contrary to defendants' statements in the offering materials, including that the objective of the fund was to 'seek capital appreciation and capital preservation with low correlation to the broader U.S. equity market' and to 'preserve capital, particularly in down markets (including major market drawdowns),' the fund was not focused on capital preservation and was overexposed to the risk of volatility and a down market, as was demonstrated when the value of Preservation Fund shar...................... To view our full article Click here
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