Update in Lawsuit for Investors in Virtus Investment Partners Inc. (NASDAQ: VRTS) Shares Announced by Shareholders Foundation

SAN DIEGO, CA, February 6, 2018 (Newswire.com) - The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain purchasers of (NASDAQ: VRTS) shares against Virtus Investment Partners Inc. over alleged violations of Securities Laws.

Investors, who purchased shares of Virtus Investment Partners Inc. (NASDAQ: VRTS) in early 2013 or earlier and continue to hold any of those (NASDAQ: VRTS) shares, have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.

On February 20, 2015, a lawsuit was filed against Virtus Investment Partners Inc. and its CEO and CFO over alleged securities laws violations. The plaintiff alleged that since at least May 28, 2013, Virtus Investment Partners knew that its sales and marketing of the AlphaSector's past track record was based on false and misleading statements about its success against the S&P 500 index and that Virtus Investment Partners' sales of its AlphaSector funds drove its increases in revenues and income, and caused substantial artificial appreciation in its stock price. The plaintiff claimed that subsequently, on December 22, 2014, the SEC announced its settlement of an administrative proceeding against F-Squared for a penalty of $35 million, revealing further details about the fraud. The plaintiff alleges that that Virtus Investment Partners concealed its knowledge and role in F-Squared's fraud from its investors, and knew that its stock price was artificially inflated.

On August 21, 2015, an amended complaint was filed and on October 21, 2015, the defendants filed their motion to dismiss the case. On July 1, 2016, the judge denied in part the defendants' motion to dismiss the case. On May 15, 2017, the court granted the plaintiff's motion for class certification. A trial in this Action is scheduled for March 19, 2018.

Those who purchased Virtus Investment Partners Inc. (NASDAQ: VRTS) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.

Source: Shareholders Foundation, Inc.