Levi & Korsinsky, LLP announces that a class action lawsuit has commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Virtus Investment Partners Inc. (Nasdaq: VRTS) securities who purchased shares between May 28, 2013 and December 22, 2014.
Virtus marketed and offered funds with an “AlphSector” strategy through a relationship with investment advisor firm F-Squared Investments, Inc. The complaint alleges that defendants concealed from the investing public that past results of the AlphaSector funds were grossly overstated and inflated, and that as a result, the Company’s stock traded at artificially inflated prices during the class period. On December 22, 2014, the SEC announced it had formally charged F-Squared and its President for fraud and other violations of the Investment Advisors Act of 1940, and that it had reached a settlement with F-Squared regarding those charges. If you suffered a loss in Virtus you have until April 21, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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