Catalyst Capital Advisors LLC is located in the United States and is part of the Investment Pools and Funds Industry.

According to the law firm press release, the Complaint alleges that after the Catalyst Futures Fund was reorganized as a mutual fund, Defendants marketed and sold shares of the Fund as a low-risk, low-volatility investment with minimal correlation to the U.S. equity market. The Prospectuses for the Fund stated that the Fund "places a strong focus on risk management that is intended to provide consistency of returns and to mitigate the extent of losses. . . . [T]he Fund employs strict risk management procedures to adjust portfolio exposure as necessitated by changing market conditions." The Complaint alleges that these statements and others like them in the Fund's Prospectuses and Registration Statements issued in connection with the offerings of Fund shares were inaccurate statements of material fact because they did not disclose that the Catalyst Futures Fund continued to invest as if it were a hedge fund, taking massive directional bets against U.S. stock market indices through complex derivative instruments, thereby exposing investors to the heightened risk of loss of capital.

On January 8, 2018, the Court issued an Order appointing Co-Lead Plaintiffs and Co-Lead Counsel. On March 30, Co-Lead Plaintiffs filed an amended Complaint. Defendants filed a Motion to Dismiss the amended Complaint on June 5. On March 7, 2019, Lead Plaintiffs dismissed one of the individual Defendants. On June 25, the Court issued an Order granting Defendants' Motion to Dismiss the amended Complaint, dismissing the claims with prejudice. On March 5, 2020, the parties entered into a Stipulation and Agreement of Settlement. The Court issued an Order granting preliminary approval of the Settlement on March 30. On September 9, the Court granted final approval of the Settlement and entered Final Judgment.