04.03.2021 - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of shares of the Infinity Q Diversified Alpha Fund (NASDAQ: IQDAX, IQDNX) between December 21, 2018 through February 22, 2021, inclusive (the “Class Period”) of the important . Seite 1
An Infinity Q Capital Management investor is taking legal action against the embattled firm, with the expectation that others will join in the class action lawsuit.
The complaint, filed in the Eastern District of New York on February 26, alleges that Liang Yang and other investors “suffered significant losses and damages” after Infinity Q’s chief investment officer altered the firm’s pricing models.
The lawsuit follows news that Infinity Q would gate and liquidate certain portfolios after learning from the Securities and Exchange Commission that its CIO, James Velissaris, had intervened in the fund valuation process.
A statement on the firm’s website says it independently verified the SEC’s findings and that Velissaris has been “relieved of his duties.”
/PRNewswire/ Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of shares of the.
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As news broke Monday that investment firm Infinity Q Capital Management was gating and liquidating a fund portfolio, its chief investment officer James Velissaris seemed to disappear from the internet.
His LinkedIn profile is now defunct. The Infinity Q website, which now only includes a statement about the situation, said Tuesday that it was undergoing maintenance.
But Velissaris couldn’t vanish from the internet altogether. News articles, his own research, and a defunct version of Infinity Q’s website paint a picture of what led up to his time at the firm.
Late last week, the Securities and Exchange Commission told Infinity Q’s non-executive chairman that it had found evidence that Velissaris had been altering the third-party valuation models for its $1.8 billion Diversified Alpha Fund. The firm said it had independently confirmed this but had not assessed the impact of those changes.