November 16, 2015
Virtus Investment Advisers agreed to pay $16.5 million in fines to settle charges with the SEC that it publicized false performance data for the AlphaSector exchange-traded fund built by F-Squared, a sub adviser for mutual funds.
According to the SEC, Virtus used overstated performance returns prepared by F-Squared in client presentations and marketing materials. F-Squared agreed to a $35 million settlement with regulators last year admitting that it had misled clients about the track record of the AlphaSector ETF portfolio strategy.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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