Shareholder rights law firm Robbins Arroyo LLP is investigating
whether certain officers and directors of Virtus Investment Partners,
Inc. (NASDAQGS: VRTS) violated federal securities laws by issuing
materially misleading business information to the investing public.
Virtus is a publicly owned investment manager.
View this press release on the law firm's Shareholder Rights Blog:
www.robbinsarroyo.com/shareholders-rights-blog/virtus-investment-partners-inc-2
Virtus To Pay $16.5 Million To Settle False Advertising Charges
On November 16, 2015, the U.S. Securities and Exchange Commission
("SEC") announced that Virtus will pay $16.5 million to settle charges
that it touted false performance claims to boost an investment portfolio
strategy. An SEC investigation found that Virtus publicized an
overstated performance track record as received from F-Squared
Investments, which had managed the strategy. Andrew Ceresney, director
of the SEC enforcement division, stated, "Virtus accepted F-Squared's
historical performance misrepresentations at face value and ignored red
flags that called these statements into question." Virtus falsely stated
in client presentations, marketing materials, and SEC filings that the
portfolio strategy had a performance history dating back to April 2001
and outperformed the S&P 500 Index for several years. In a separate SEC
enforcement action last year, F-Squared admitted to touting a track
record it presented as real when it was actually hypothetical and
inflated.
Virtus Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Darnell R. Donahue at
(800) 350-6003, DDonahue@robbinsarroyo.com,
or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
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