Violations of federal securities laws as a result of a series of materially false statements. According to the Complaint, Virtus Investment Partners, Inc, F-Squared Investments, Inc., and certain of their officers, directors and affiliates issued materially false and misleading statements about the AlphaSector Funds' true financial condition and prospects. It is alleged that on October 1, 2009, January 28, 2010, January 27, 2011, January 27, 2012 and January 25, 2013, Virtus Opportunity Trust issued registration statements that falsely claimed that F-Squared's AlphaSector strategy had a track record dating back to 2003, when, in reality, F-Squared did not begin managing money until 2009. Additionally, the Complaint claims that Virtus also failed to correct this information in a registration statement issued January 28, 2014. Filed in C.D. Cal.
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