Last month, a securities fraud class action was filed on behalf of persons who purchased shares of the LJM Preservation and Growth Fund. According to the Complaint filed in the U.S. District Court for the Northern District of Illinois, LJM Preservation and Growth Fund made misleading and false statements to investors in its offering material.
The fund filed a registration statement in 2015 that represented the fund sought to preserve capital, especially in down markets. The class action alleges that the foregoing statements were misleading and false because the fund did not focus on preserving capital and put investors in a vulnerable position with an unacceptably high risk of catastrophic losses. The fund dropped almost 80 percent over just two days in 2018.
Amid allegations that it made false and misleading statements to investors, the LJM Preservation and Growth Fund recently announced it will be shutting down on March 29, 2018 and going into liquidation as it continues to experience massive declines in fund values.
Did You Lose Money While Investing in the LJM Preservation and Growth Fund?
Class action lawsuits are valuable in some situations, but they may not be the best option for investors to recover the most money damages from claims against funds like LJM. For some investors, filing their own claim could result in an increased chance of recovering a larger portion of financial losses. If you invested in the fund and have sustained financial losses, Meyer Wilson can help you evaluate your legal options. Call (888) 390-6491 to schedule a free case evaluation today.