Case Page

 

Case Status:    ONGOING    
On or around 07/06/2017 (Ongoing date of last review)

Filing Date: April 28, 2017

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.

COMPANY INFORMATION:

Sector: Financial
Industry: Other (Mutual Fund)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: HFXAX
Company Market: Open-end Fund
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. New York
DOCKET #: 17-CV-02565
JUDGE: Hon. Leonard D. Wexler
DATE FILED: 04/28/2017
CLASS PERIOD START: 11/01/2014
CLASS PERIOD END: 04/28/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Johnson & Weaver, LLP
    110 West “A” Street, Suite 750, Johnson & Weaver, LLP, CA 92101
    619.230.0063 619.230.0063 · contactus@johnsonandweaver.com
  2. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
No Document Title Filing Date