LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Catalyst Hedged Futures Strategy Fund Class A, Class C and Class I (“Catalyst Futures Fund” or the “Company”) (MUTF:HFXAX; MUTF:HFXCX; MUTF:HFXIX) securities between November 1, 2014 and April 28, 2017, inclusive (the “Class Period”). Catalyst Futures Fund investors have until June 27, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Catalyst Futures Fund investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
According to the Complaint filed in this class action, throughout the Class Period, Catalyst Futures Fund violated federal securities laws by making materially false and/or misleading public statements and/or failing to disclose material information. Specifically, Catalyst Futures 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.” However, the market eventually learned that Catalyst Futures 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 Catalyst Futures Fund investors suffered hundreds of millions of dollars in losses. Between February 2, 2017 and March 15, 2017, the Net Asset Value of Catalyst Futures Fund’s Class A shares, Class C shares and Class I shares declined approximately 21%.
If you purchased shares of Catalyst Futures Fund during the Class Period you may move the Court no later than June 27, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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