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id: 440, Created by Stan Vick Chase, Scout
Infinity Q Diversified Alpha Fund
22 February 2016Class period Start
22 February 2021Class period End
06 February 2023Claim deadline
In re Infinity Q Diversified Alpha Fund and Infinity Q Volatility Alpha Fund, L.P. Securities Litigation.
Defendants agreed to pay up to $48 million to settle a securities class action lawsuit to avoid further litigation.
This is a federal securities class action on behalf of all persons and entities who purchased the Infinity Q Diversified Alpha Fund Investor Class shares (IQDAX) or Institutional Class shares (IQDNX) between December 21, 2018, and February 22, 2021, both dates inclusive.
The Complaint alleged that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that:
- Infinity Q’s Chief Investment Officer made adjustments to certain parameters within the third-party pricing model that affected the valuation of the swaps held by the Fund;
- consequently, Infinity Q would not be able to calculate Net Asset Value (NAV) correctly;
- as a result, the previously reported NAVs were unreliable;
- because of the foregoing, the Fund would halt redemptions and liquidate its assets; and
- as a result, the Prospectuses were materially false and/or misleading and failed to state information required to be stated therein.
Unit (ETF, ETN, Unit)
Andrea Hunter, David Rosenstein, Neil O’Connor
Boies, Schiller & Flexner LLP (New York, NY), Scott + Scott Attorneys, Rosen Law Robbins Geller Rudman & Dowd LLP (San Diego, CA)
Hon. Frederic Block
Gilardi & Co LLC
Court hearing date
31 January 2023
the Infinity Q Diversified Alpha Fund Investor Class shares (IQDAX) or Institutional Class shares (IQDNX)
+$48,000,000Total Settlement Amount