Case Page

 

Case Status:    ONGOING    
On or around 06/26/2018 (Ongoing date of last review)

Filing Date: February 09, 2018

On February 9, 2018, Plaintiff's law firm filed a press release announcing the class action lawsuit. According to the press release, LJMIX is a mutual fund that purports to invest primarily in purchased and sold call and put options on Standard & Poor’s 500 Futures Index (“S&P”).

The complaint alleges that Defendants violated provisions of the Securities Act by issuing false and misleading statements to investors, including in filings with the U.S. Securities and Exchange Commission (“SEC”). Specifically, Defendants made false and/or misleading statements and/or failed to disclose that LJMIX was not focused on capital preservation and left investors exposed to an unacceptably high risk of catastrophic losses. In addition, it is alleged that Defendants violated 17 C.F.R. 229.303 by failing to disclose the fact that LJMIX had not taken appropriate steps to preserve capital in down markets.

The truth emerged on February 5, 2018, when the S&P fell approximately 4.6 percent. In the wake of this drop, LJMIX plunged from a close price of $9.82 on February 2, 2018 to a close price of $1.94 on February 7, 2018, a massive loss of approximately 80 percent.

On March 28, 2018, the Court issued an Order consolidating cases. On June 26, the Court issued an Order appointing Lead Plaintiff and Counsel.

COMPANY INFORMATION:

Sector:
Industry:
Headquarters:

SECURITIES INFORMATION:

Ticker Symbol: LJMIX
Company Market:
Market Status:

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: N.D. Illinois
DOCKET #: 18-CV-01039
JUDGE: Hon. Robert M. Dow, Jr.
DATE FILED: 02/09/2018
CLASS PERIOD START: 02/28/2015
CLASS PERIOD END: 02/07/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Criden & Love, P.A.
    7301 S.W. 57th Court, Suite 515, Criden & Love, P.A., FL 33143
    305.357.9000 305.357.9050 · klove@cridenlove.com
  2. Freed Kanner London & Millen, LLC
    2201 Waukegan Road, Suite 130, Freed Kanner London & Millen, LLC, IL 60015
    224.632.4500 224.632.4521 · info@fklmlaw.com
  3. Scott + Scott LLP (NY)
    405 Lexington Avenue, 40th Floor, The Chrysler Building, Scott + Scott LLP (NY), NY 10174
    (212) 223-6444 (212) 223-6444 ·
No Document Title Filing Date