Dimond Kaplan & Rothstein, P.A. is investigating brokerage firms’ sales of Virtus AlphaSector funds or any funds utilizing F-Squared Investment’s trading algorithm.
F-Squared agreed to a $35 million settlement with the SEC after the SEC claimed that F-Squared defrauded investors. F-Squared also admitted that it misled investors by claiming a successful seven-year track record for its investment strategy. In reality, F-Squared’s AlphaSector trading algorithm did not even exist during the seven-year period.
The Virtus and F-Squared-related funds were marketed and sold by many brokerage firms including, but not limited to: Ameriprise, AssetMark, Ausdal Financial Partners, LPL Financial, RBC Wealth Management, Raymond James, Charles Schwab, Stifel Nicolaus, UBS Financial Services and Wells Fargo Advisors.
DKR is looking into whether these brokerage firms performed adequate due diligence of the Virtus or F-Squared investments before recommending the products to investors. If you lost money in a Virtus AlphaSector fund or F-Squared product, contact a DKR investment fraud lawyer to discuss your rights.
