According to the Complaint, Infinity Q Capital Management, LLC is a registered investment advisor that purports to provide hedge fund strategies to institutional and retail investors. Infinity Q acts as investment advisor to the Infinity Q Diversified Alpha Fund (the “Fund”), pursuant to an Investment Advisory Agreement.

This is a federal securities class action on behalf of all persons and entities who purchased the Infinity Q Diversified Alpha Fund Investor Class shares (IQDAX) or Institutional Class shares (IQDNX) between December 21, 2018 and February 22, 2021, both dates inclusive.

The Complaint alleges that during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Infinity Q’s Chief Investment Officer made adjustments to certain parameters within the third-party pricing model that affected the valuation of the swaps held by the Fund; (2) consequently, Infinity Q would not be able to calculate Net Asset Value (NAV) correctly; (3) as a result, the previously reported NAVs were unreliable; (4) because of the foregoing, the Fund would halt redemptions and liquidate its assets; and (5) as a result, the Prospectuses were materially false and/or misleading and failed to state information required to be stated therein.

On March 31, 2022, the Court issued an Order appointing Lead Plaintiff and Co-Lead Counsel. On April 6, the Court issued an Order consolidating cases. All future docketing was ordered to be done in the lead case 21-CV-01047.

Lead Plaintiff filed a consolidated Complaint on June 6, 2022.

On September 7, 2022, the parties to this federal action and to a related state action jointly filed an amended Stipulation of Settlement in the state action.

The parties voluntarily dismissed the case on February 13, 2024.