Zamansky LLC has filed a class action lawsuit on behalf of investors who purchased or acquired common stock from Virtus Investment Partners (“Virtus”). The lawsuit was filed by Zamansky LLC on behalf of all qualified investors who suffered financial loss. You may be eligible to become a part of this lawsuit if:
- You purchased or acquired shares of common stock of Virtus Investment Partners (Nasdaq:VRTS) between May 28, 2013 and December 22, 2014 (the “Class Period.”)
- You experienced an investment loss
Zamansky LLC is a New-York based law firm with an extensive background in the successful prosecution of securities fraud and financial services claims. Contact attorney Jacob H. Zamansky today at jake@zamansky.com or via phone at 212-742-1414 for a free consultation to discuss your rights as a Virtus investor.
The lawsuit against Virtus, filed on February 20, 2015 in the United States District Court, Southern District of New York alleges that the mutual fund company Virtus violated the Securities and Exchange Act of 1934. Both the Connecticut-based mutual fund and several officers and directors are named as defendants.
The Virtus class action lawsuit was filed by Zamansky LLC on behalf of all investors, and on behalf of an individual investor who sustained financial loss. Other Virtus investors have 60 days from the date of the February 20 filing to petition the court to serve as lead plaintiff. Certain requirements must be met by lead plaintiffs, and your ability to recover compensation for financial losses is not dependent upon your active involvement in the litigation. Zamansky LLC can petition the court on your behalf to seek relief as the lead plaintiff or assist you in joining the class as an absent member.
The complaint against Virtus Investment Partners stems from false and misleading statements allegedly made in the sale of the mutual fund company’s financial products. Virtus is best known for its “AlphaSector Rotation” and its “Premium AlphaSector” funds. Virtus partnered with an investment advisor firm, F-Squared Investments, Inc. (“F-Squared”), which allegedly helped Virtus to make false statements exaggerating its past track record of performance in comparison with the S&P 500 Index. Sales of the AlphaSector funds drove an increase in revenues for Virtus, causing substantial artificial appreciation of stock shares.
In September 2014, the Wall Street Journal reported that F-Squared was under investigation for alleged past falsifications. Shares of Virtus stock lost more than 16 percent of value within days. In December 2014, F-Squared settled with the SEC and paid a penalty of $35 million. Shares of Virtus stock, trading at a high of $240.72 during the class period, fell to $169.70 per share at close on December 22, 2014, the date of the SEC’s announcement of the settlement with F-Squared.
Investors suffered significant financial loss, and the complaint filed by Zamansky LLC on behalf of investors alleges that Virtus concealed its role in the F-Squared fraud from investors. Plaintiffs also allege that Virtus knew its stock price was artificially inflated. Zamansky LLC can help investors to petition the court to serve as lead plaintiff by the filing deadline of April 21, 2015 and can otherwise assist those seeking compensation for financial loss resulting from the alleged Virtus securities violations. If you have questions or concerns, or wish to discuss this action, please contact:
ZAMANSKY LLC
Attention: JACOB H. ZAMANSKY
jake@zamansky.com
50
Broadway, 32nd Floor
New York, NY 10004
Tel.: (212) 742-1414
Fax:
(212) 742-1177
http://www.zamansky.com/
Contacts:
Jacob H. Zamansky, 212-742-1414
jake@zamansky.com
Fax:
212-742-1177
http://www.zamansky.com/
