NEW YORK--(BUSINESS WIRE)--The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Catalyst Hedged Futures Strategy Fund (NASDAQ: HFXAX, HFXCX, HFXIX) who purchased Class A, Class C, and Class I shares between November 1, 2014 and April 28, 2017. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Fund’s prospectuses declared “The Fund employs strict risk management procedures to adjust portfolio exposure as necessitated by changing market conditions”; (ii) despite converting from hedge fund to a more risk-limiting mutual fund, it continued to invest using a heightened risk strategy; and (iii) as a result, the Fund’s financial statements were materially false and misleading at all relevant times.
Shareholders have until June 27, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sa/catalyst-hedged-futures-strategy-fund?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.