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Komfie Manalo, Opalesque Asia: Investors who bought Catalyst Hedged Futures Strategy Fund's Class A, C and I shares have until June 27, 2017 to file lead plaintiff applications in a securities class action lawsuit against the hedge fund, said Charles C. Foti, Jr., a partner at law firm Kahn Swick & Foti, LLC and former Attorney General of Louisiana.
Foti issued the alert to Catalyst Fund shareholders to remind them of their options should they wish to join the class action against the firm.
"If you purchased shares of Catalyst Fund and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, [call] or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 27, 2017," said Foti.
The case against Catalyst Fund was initiated after certain executive officers and/or trustees of t the company were charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but not limited to, that: the fund's prospectuses declared "[T]he Fund employs strict risk management procedures to adjust portfolio exposure as necessitated by changing market conditions"; despite converting from hedge fund to a more risk-limiting mutual f...................... To view our full article Click here
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