NEW YORK, May 18, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Class A, Class C and Class I shares of the Catalyst Hedged Futures Strategy Fund ("Catalyst Futures Fund") HFXAX HFXCX HFXIX from November 1, 2014 through April 28, 2017, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Catalyst Futures Fund investors under the federal securities laws.
To join the Catalyst Futures Fund class action, go to http://rosenlegal.com/cases-1110.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
In August 2013, Catalyst Futures Fund was converted from a hedge fund to a mutual fund. According to the lawsuit, the Prospectuses and Registration Statements issued in connection with the offerings of Catalyst Futures Fund shares were false and/or misleading and/or failed to disclose that the Catalyst Futures Fund continued to invest as if it were a hedge fund, taking massive directional bets against U.S. stock market indices through complex derivative instruments, thereby exposing investors to the heightened risk of loss of capital.
According to the complaint, it was eventually revealed that the 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, Catalyst Futures Fund's investors suffered hundreds of millions of dollars in losses. Between February 2, 2017 and March 15, 2017, the NAV of the Catalyst Futures Fund's Class A shares, Class C shares and Class I shares declined approximately 21%, or $2.22 per share, $2.16 per share and $2.23 per share, respectively.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 27, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1110.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked # 2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 lrosen@rosenlegal.com pkim@rosenlegal.com kchan@rosenlegal.com www.rosenlegal.com
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