Attorneys at Law, LLP (“Scott+Scott”), a national securities and
consumer rights litigation firm, today announced that it has filed a
class action lawsuit against LJM Funds Management Ltd. (“LJM Partners”
or the “Company”) and certain of its executives (collectively,
The action, which was filed in the U.S. District Court for the Northern
District of Illinois, asserts claims under Sections 11, 12, and 15 of
the Securities Exchange Act of 1933 (the “Securities Act”), 15 U.S.C.
§§77k, 77l and 77o, on behalf of persons who purchased shares of the LJM
Preservation and Growth Fund Class I (“LJMIX”) (MUTF: LJMIX) between
February 28, 2015 and February 7, 2018, inclusive (the “Class Period”).
LJMIX is a mutual fund that purports to invest primarily in purchased
and sold call and put options on Standard & Poor’s 500 Futures Index
The complaint alleges that Defendants violated provisions of the
Securities Act by issuing false and misleading statements to investors,
including in filings with the U.S. Securities and Exchange Commission
(“SEC”). Specifically, Defendants made false and/or misleading
statements and/or failed to disclose that LJMIX was not focused on
capital preservation and left investors exposed to an unacceptably high
risk of catastrophic losses. In addition, it is alleged that Defendants
violated 17 C.F.R. 229.303 by failing to disclose the fact that LJMIX
had not taken appropriate steps to preserve capital in down markets.
The truth emerged on February 5, 2018, when the S&P fell approximately
4.6 percent. In the wake of this drop, LJMIX plunged from a close price
of $9.82 on February 2, 2018 to a close price of $1.94 on February 7,
2018, a massive loss of approximately 80 percent.
If you wish to serve as lead plaintiff, you must move the Court no later
than April 10, 2018. Any member of the proposed class may move the Court
to serve as lead plaintiff through counsel of their choice, or may
choose to do nothing and remain a member of the proposed class.
If you wish to discuss this action or have any questions concerning this
notice or your rights or interests, please contact plaintiff’s counsel,
Joe Pettigrew of Scott+Scott at (844) 818-6982, or via email at [email protected].
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities,
antitrust, and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals, and
other entities worldwide with offices in New York, London, Connecticut,
California, and Ohio.
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