GARDEN CITY, N.Y.--(BUSINESS WIRE)--
JFJN Law (the “firm) announces the filing of a class action lawsuit against Catalyst Hedged Futures Strategy Fund (“Catalyst Hedged Fund” or the “Company”) (Nasdaq:HFXAX; Nasdaq:HFXCX; Nasdaq:HFXIX). Investors who purchased or otherwise acquired shares between November 1, 2014 and April 28, 2017 inclusive (the “Class Period”) are encouraged to contact the Firm in advance of the June 27, 2017 lead plaintiff motion deadline.
If you purchased shares in Catalyst Hedged Fund during the Class Period, please contact Justin Frankel, Esq. or Jason Newfield, Esq., of JFJN Law, 1-888-459-0507 or click here before June 27, 2017.
There has not been a class certification of this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
In 2013, Catalyst Hedged Fund converted from a hedge fund to a mutual fund. The class action complaint alleges that when the Company reorganized as a mutual fund, the defendants portrayed and sold shares of the fund with an investment objective of “capital appreciation and capital preservation in all market conditions, with low volatility and low correlation to the US equity market.”
According to the class action complaint, the Prospectuses and Registration Statements issued in connection with the offering of Catalyst Hedged Fund were false and/or misleading by failing to disclose that the Company continued to invest as if it were a hedge fund, thereby exposing investors to a heightened risk of loss of capital.
Catalyst Hedged Fund made a directional bet that the equity market would not rise significantly in value. As these undisclosed risks occurred, investors incurred hundreds of millions of dollars in losses when the value of the fund assets dropped over $1 billion since early 2017.
Between February 2, 2017 and March 15, 2017, the Net Asset Value (“NAV”) of the Fund’s HFXAX share class, HFXCX share class, and HFXIX share class have each declined approximately 21%, or $2.22 per share, $2.16 per share and $2.23 per share, respectively.
This press release may be considered Attorney Advertising in some jurisdictions.
If you suffered a loss in Catalyst Hedged Fund you have until June 27, 2017 to request that the Court appoint you as a lead plaintiff. Your ability to share in any recovery does not require you serve as a lead plaintiff.