LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Catalyst Hedged Futures Strategy Fund (“Catalyst” or the “Fund”) (Nasdaq:HFXAX) (Nasdaq:HFXCX) (Nasdaq:HFXIX) for violations of §11, §12(a)(2) and §15 of the Securities Act of 1933.
Investors who purchased the Fund’s Class A, Class C or Class I 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 are a shareholder who suffered a loss during the Class Period, click here to participate.
In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, Catalyst Hedged Futures Strategy Fund violated federal securities laws by making materially false and/or misleading public statements and/or failing to disclose material information. In August 2013, Catalyst was converted from a hedge fund to a mutual fund. The Fund stated in its Prospectuses, that its objective is “capital appreciation and capital preservation in all market conditions, with low volatility and low correlation to the US equity market.” It was eventually revealed, however, that Catalyst continued to make investments as if it were a hedge fund. Specifically, the Fund made a directional bet that the general equity market would not rise significantly in value, in the form of massive option contracts that effectively “shorted” the S&P 500. As these undisclosed risks materialized, the Fund’s investors suffered hundreds of millions of dollars in losses. Between February 2, 2017 and March 15, 2017, the Net Asset Value of Catalyst’s Class A shares, Class C shares and Class I shares declined approximately 21%.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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