Violations of federal securities laws as a result of a series of materially false statements. According to the Complaint, Virtus marketed and offered funds with an "AlphaSector" strategy through a relationship with investment advisor firm, F-Squared Investments, Inc. The Complaint alleges that Defendants concealed from the investing public that past results of the AlphaSector funds were grossly overstated and inflated and that, as a result, the Company's stock traded at artificially inflated prices during the Class Period. According to the Complaint, the Securities and Exchange Commission announced on December 22, 2014 that it had formally charged F-Squared and its President for fraud and other violations of the Investment Advisors Act of 1940, and that it had reached a settlement with F-Squared regarding those charges. Filed in S.D.N.Y.
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