LOS ANGELES, May 23, 2017 (GLOBE NEWSWIRE) -- Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Catalyst Hedged Futures Strategy Fund (“Catalyst” or the “Fund”) (Nasdaq:HFXAX) (Nasdaq:HFXCX) (Nasdaq:HFXIX) for possible violations of federal securities laws between November 1, 2014 and April 28, 2017, inclusive (the “Class Period”). Investors who purchased or otherwise acquired the Fund’s Class A, Class C, or Class I shares during the Class Period should contact the firm prior to June 27, 2017, the lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, throughout the Class Period, Catalyst violated federal securities laws by making materially false and/or misleading public statements and/or failing to disclose material information. 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 that Catalyst 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 lost hundreds of millions of dollars. Between February 2, 2017 and March 15, 2017, the Net Asset Value (“NAV”) of Catalyst’s Class A shares, Class C shares and Class I shares declined approximately 21%.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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