DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed in the United States District Court for the Southern District of New York against Virtus Investment Partners, Inc. (“Virtus”) (NasdaqGS: VRTS) and several officers and directors for acts taken during the period of May 28, 2013 to December 22, 2014 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Virtus. If you are an affected Virtus shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at email@example.com. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants concealed from the investing public that past results of the AlphaSector funds were grossly overstated and inflated. The complaint alleges that Virtus marketed and offered funds with an “AlphaSector” strategy through a co-advisory relationship with F-Squared Investments, Inc. The SEC announced on December 22, 2014 that it had formally charged F-Squared and its President for fraud and various violations of the investment Advisors Act of 1940 and had reached a settlement regarding those charges. Although the announcement did not mention Virtus by name, it implicated Virtus in the fraud. Virtus stock dropped significantly immediately following this announcement.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.