SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Virtus Investment Partners, Inc. and Certain Officers -- VRTS

NEW YORK, Feb. 27, 2015 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Virtus Investment Partners, Inc. ("Virtus" or the "Company") VRTS and certain of its officers. The class action, filed in United States District Court, Southern District of New York, is on behalf of a class consisting of all persons or entities who purchased Virtus securities between May 28, 2013 and December 22, 2014, inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").

If you are a shareholder who purchased Virtus securities during the Class Period, you have until April 27, 2015 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.

Virtus is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. It invests in the public equity, fixed income, and real estate markets. The firm also invests in exchange traded funds. It employs a multi manager approach for its products. The firm employs quantitative analysis to make its investments. It benchmarks the performance of its portfolios against the S&P 500 Index. The firm conducts in-house research to make its investments.

The Complaint alleges that since at least May 28, 2013, Virtus knew that its sales and marketing of the AlphaSector's past track record was based on false and misleading statements about its success against the S&P 500 index. Virtus's sales of its AlphaSector funds drove its increases in revenues and income, and caused substantial artificial appreciation in its stock price. On September 5, 2014, the Wall Street Journal first reported that the Securities and Exchange ("SEC") Commission was investigating F-Squared, a co-adviser responsible for Virtus's AlphaSector Funds, over alleged falsifications of its past track record. Following this disclosure, Virtus's stock fell by $37 per share, and lost more than 16 percent of its value within a few days.

On December 22, 2014, the SEC announced that it had formally charged F-Squared and its President for fraud and various violations of the Investment Advisors Act of 1940, and that it had reached a settlement with F-Squared regarding those charges. The SEC's announcement, although never mentioning Virtus by name, revealed further details and evidence of F-Squared's fraud which implicated Virtus.

On this news, shares in Virtus, which traded as high as $240.72 per share during the Class Period, closed at $169.70 per share on December 22, 2014.

The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.