Hedge fund Infinity Q is facing a potential class action law suit filed by investors after the fund’s founder was charged with fraud by the US Securities and exchange Commission (SEC), according to a report by JD Supra.
Hedge fund Infinity Q is facing a potential class action law suit filed by investors after the fund’s founder was charged with fraud by the US Securities and exchange Commission (SEC), according to a report by JD Supra.
According to a complaint filed in the US District Court for the Eastern District of New York, the investors allege that Infinity Q’s hedge and mutual funds “lost over 40 per cent of their respective values after a forced liquidation by the SEC” in “one of the most egregious investment fund collapses in history”.
Infinity Q has been accused by the investors of manipulating the fund assets’ pricing methodology and overstating the funds’ net asset value (NAV) from 2017 to 2021, as well as providing investors with misleading marketing materials.
