Allianz Global Investors U.S. LLC : Alpha Funds Securities Litigation
On or around 02/19/2021 (Notice of voluntarily dismissal)
Filing Date: January 21, 2021
According to the Complaint, Allianz Global Investors U.S. LLC ("AllianzGI" or the "Company") is a registered investment adviser and the investment manager for the Alpha Funds (AllianzGI Structured Alpha U.S. Equity 250 LLC, AllianzGI Structured Alpha Global Equity 350 LLC, AllianzGI Structured Alpha Global Equity 500 LLC, and AllianzGI Structured Alpha Global Equity 1000 LLC).
Plaintiff seeks to represent the following proposed class: All persons and entities who purchased Alpha Funds, Structured VS Equity, Structured Return, Structured Alpha and/or Structured Fixed Income during the three years preceding the filing of the Complaint.
The Complaint alleges that during the Class Period, the marketing materials and other common communications to class members were materially false and misleading and that the Company's risk management policies and practices were deficient. According to Solicitation Materials, Allianz purportedly performed "tail-risk protection, risk reduction, and/or volatility smoothing" based on "analysis of historical movements of broad-based US indices, as well as rigorous scenario testing," and stated they stress test the portfolio under the very kinds of market conditions that occurred in February and March 2020. The Complaint alleges that none of the foregoing policies appear to have existed or followed, triggering the massive losses the Funds began to incur in February 2020.
This case was voluntarily dismissed on February 19, 2021.
Please Log In or Sign Up to access restricted features of the Clearinghouse website, including the Advanced Search form and the full case pages.
When you sign up, you will have the option to save your search queries performed on the Advanced Search form.