Update in Lawsuit for Investors in Virtus Investment Partners Inc (NASDAQ: VRTS) Shares Announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / May 24, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain purchasers of NASDAQ: VRTS shares against Virtus Investment Partners Inc. over alleged Violations of Securities Laws.

Investors who purchased shares of Virtus Investment Partners Inc. (NASDAQ: VRTS) in November 2013 or earlier and continue to hold any of those NASDAQ: VRTS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to a media report from early September 2014 F-Squared Investments Inc. received a Wells notice from the Securities and Exchange Commission ("SEC") reportedly indicating the SEC is considering bringing a civil case against F-Squared Investments Inc. in late 2013, F-Squared Investments Inc. repordetly told clients it was being investigated by the SEC, and earlier in 2014 F-Squared Investments Inc. reportedly said the regulator's investigation found certain F-Squared Investments Inc's historical returns overstated performance.

On December 22, 2014, the SEC announced that it had formally charged F-Squared and its President for fraud and various violations of the Investment Advisors Act of 1940, and that it had reached a settlement with F-Squared regarding those charges. The SEC's announcement, although never mentioning Virtus by name, revealed further details and evidence of F-Squared's fraud which implicated Virtus.

On February 20, 2015, a lawsuit was filed against Virtus Investment Partners Inc. over alleged securities laws violations. The plaintiff alleged that since at least May 28, 2013, Virtus Investment Partners knew that its sales and marketing of the AlphaSector's past track record was based on false and misleading statements about its success against the S&P 500 index and that Virtus Investment Partners' sales of its AlphaSector funds drove its increases in revenues and income, and caused substantial artificial appreciation in its stock price. The plaintiff claimed that subsequently, on December 22, 2014, the SEC announced its settlement of an administrative proceeding against F-Squared for a penalty of $35 million, revealing further details about the fraud. The plaintiff alleged that that Virtus Investment Partners concealed its knowledge and role in F-Squared's fraud from its investors, and knew that its stock price was artificially inflated.

Those who purchased Virtus Investment Partners Inc. (NASDAQ: VRTS) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.

ReleaseID: 464072

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