LOS ANGELES, May 19, 2017 (GLOBE NEWSWIRE) — Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Catalyst Hedged Futures Strategy Fund (“Catalyst” or the “Fund”) (Nasdaq:HFXAX) (Nasdaq:HFXCX) (Nasdaq:HFXIX) for violations of §11, §12(a)(2) and §15 of the Securities Act of 1933.
Investors who purchased the Fund’s Class A, Class C or Class I shares between November 1, 2014 and April 28, 2017 inclusive (the “Class Period”), are encouraged to contact the firm before June 27, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, Catalyst Hedged Futures Strategy Fund violated federal securities laws by making materially false and/or misleading public statements, and/or failing to disclose material information to investors. In August 2013, Catalyst was converted from a hedge fund to a mutual fund. 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.” Catalyst continued, however, to make investments as if it were a hedge fund. Specifically, the 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 Fund’s investors lost hundreds of millions of dollars. Between February 2, 2017 and March 15, 2017, the Net Asset Value of Catalyst’s Class A shares, Class C shares and Class I shares dropped approximately 21%.
Goldberg Law PC represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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CONTACT: Contact: Goldberg Law PC, Los Angeles Michael Goldberg, Esq., 800-977-7401 Brian Schall, Esq., 800-977-7401 Sohrab Izadi, Esq., 800-977-7401 Sherin Mahdavian, Esq., 800-977-7401 [email protected] www.Goldberglawpc.com