Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Virtus Investment Partners, Inc. (VRTS) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Virtus Investment Partners, Inc. (“Virtus” or the “Company”) (Nasdaq: VRTS) of the April 21, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Virtus and certain executives.
A complaint has been filed in the Southern District of New York on behalf of all persons who purchased or otherwise acquired Virtus publicly traded stock between May 28, 2013 and December 22, 2014, inclusive (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Virtus partnered with an investment advisor firm, F-Squared Investments, Inc. (“F-Squared”), to make false and misleading statements about the past track record of performance of the Company’s AlphaSector strategy compared with the S&P 500 Index.
On December 22, 2014, the Securities and Exchange Commission announced that it had charged F-Squared and its president for fraud and various violations of the Investment Advisors Act of 1940 and that a settlement had been reached in regards to those charges.
Following this news, the price of Virtus stock declined by $71.02 or over 29% from its Class Period intraday high of $240.72, to close at $169.70 on December 22, 2014.
If you invested in Virtus stock or options between May 28, 2013 and December 22, 2014 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding the Company’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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