INFINITY Q ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Infinity Q Diversified Alpha Fund and Encourages Investors to Contact the Firm
NEW YORK–(BUSINESS WIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, announces a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of investors who purchased Infinity Q Diversified Alpha Fund Shares ( NASDAQ: IQDAX, IQDNX) between December 21, 2018 and February 22, 2021 inclusive (the “Class Period”). Investors have until April 27, 2021 to apply to the court for appointment as the lead plaintiff in the lawsuit.
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On February 22, 2021, Infinity Q filed with the SEC for an order under Section 22 (e) (3) of the Investment Company Act of 1940 suspending redemption rights for fund units effective February 19, 2021 Infinity Q’s inability to determine fund prices or net asset value (“NAV”). The application also stated that the Fund was liquidating its portfolio and distributing its assets to the unitholders.
The complaint filed on February 26, 2021 alleges that throughout the class period, defendants made false and / or misleading statements and / or failed to disclose that: (1) Infinity Q’s chief investment officer adjusted certain parameters within the third party has a pricing model that affected the valuation of the swaps held by the fund; (2) as a result, Infinity Q would not be able to correctly compute the NAV; (3) As a result, the previously reported net asset values were unreliable. (4) In response to the foregoing, the Fund would suspend redemptions and liquidate its assets. and (5) as a result, the prospectuses were materially inaccurate and / or misleading and did not contain any information about the information contained therein. When the real details hit the market, the lawsuit alleged that investors suffered damage.
If you have purchased Infinity Q stock during the Class Period and suffered a loss, are a long-term shareholder, have information, want to learn more about these claims, or have any questions about this announcement or your rights or interests in relation to it, please contact us to Brandon Walker, Melissa Fortunato, or Marion Passmore by email at email@example.com, by phone at (212) 355-4648, or by completing this contact form. There are no costs or obligations for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.