Allegations in Virtus class action relate to the fund company using a track record improperly calculated by its subadvisor
The suit says the track record was fabricated using backtested hypothetical results that were not only falsely presented to investors but were themselves grossly inflated
Author Sanders Wommack August 26, 2015 at 3:54 PM
Alan
August 26, 2015 — 7:59 PM
That’s quite a retraction… I suppose that’s what you get when a kid just out of college writes articles about an industry in which he has no formal education or work experience….
Phil
August 26, 2015 — 11:54 PM
Two retractions in one day? I guess “Accuracy in Journalism” is an elective at the University of Chicago…..
Dan G
August 27, 2015 — 10:25 AM
Does this suit really claim these people were trying to hide evidence by deleting emails? Trust me, I worked in data services – you can’t make emails disappear by deleting them. Just ask Hillary.
Virtus
December 15, 2017 — 8:07 PM
Jeff Cerutti and John McCormack should both be investigated by the SEC. SEC should piece together when they knew of this fraud, how they continued to push all of the Regional Directors at Virtus to knowingly sell a fake track record, and the SEC should look at those 2 for stock gains if they sold based on insider information which could be insider trading
