Securities Class Action Filed Against Wildermuth Fund and Auditor
Class Action Against Wildermuth Fund and Auditor
Scott+Scott Attorneys at Law LLP and Dilworth Paxson LLP have initiated a significant securities class action lawsuit in the U.S. District Court for New Jersey, targeting the Wildermuth Fund, along with all associated parties. This legal step arises from serious allegations involving the Fund and its audit practices.
Background on Wildermuth Fund
Wildermuth Fund has been operating as a closed-end investment company and has managed several mutual fund classes. Scott+Scott and Dilworth Paxson accuse the Fund and its advisers of breaching various securities regulations, impacting investors during the defined class period.
Details of the Allegations
In this class action, the plaintiffs assert that the defendants, including WithumSmith+Brown, PC, violated the Securities Exchange Act and Investment Company Act. The claims include misleading valuations of the Fund's holdings and the potential concealment of significant monetary losses impacting shareholders.
Claims Under the Law
The lawsuit brings to light that during the specified time frame, the defendants allegedly mismanaged the Fund, affecting its net asset value significantly. Furthermore, they are accused of failing to inform investors of financial practices that could jeopardize their investments.
Impact on Investors
Investors who purchased shares of the Wildermuth mutual fund classes may be eligible to partake in the class action. The plaintiffs contend that the actions taken by the defendants caused unjust financial harm to those involved, exposing them to unnecessary risks.
Participating in the Class Action
To pursue claims if you are part of the affected class, individuals must take timely action. It is imperative for those who wish to be lead plaintiffs to file their motions in court before the specified deadline. However, being a lead plaintiff is not a requirement to benefit from any potential recovery.
How to File a Motion
If you believe you qualify for participation in the class action, it’s advisable to reach out to legal representation for guidance. You need to assert your rights and properly navigate the complexities of this lawsuit effectively.
Contact Information
If interested in learning more or taking necessary legal steps, you can reach attorney Matthew Peller at (888) 398-9312. His experience can assist individuals looking to understand their rights in this class action lawsuit.
About Scott+Scott Attorneys at Law
Scott+Scott has a strong reputation as a leading international law firm specializing in litigation that addresses corporate misconduct and investor protection. With a vast network of skilled attorneys, the firm is dedicated to securing justice for aggrieved clients, often achieving significant settlements.
About Dilworth Paxson LLP
Dilworth Paxson has built a significant portfolio in handling high-profile class actions and has facilitated recoveries exceeding two billion dollars for clients impacted by corporate injustices. Their expertise underscores the commitment to accountability in the financial community.
Frequently Asked Questions
What is the Wildermuth Fund class action about?
The class action addresses allegations of mismanagement and misrepresentation by the Wildermuth Fund and its advisors, impacting investors adversely.
Who is eligible to participate in the class action?
Individuals who acquired shares of the Wildermuth mutual fund during the specified period may be eligible to participate in the class action.
What steps should I take to become a lead plaintiff?
Potential lead plaintiffs must file a motion in the U.S. District Court for New Jersey by the deadline provided.
Can I still share in the recovery without being a lead plaintiff?
Yes, you do not need to be a lead plaintiff to participate in any recovery related to the class action.
Who can I contact for more information?
You can contact attorney Matthew Peller at Scott+Scott for more information about your rights and participation options.
About The Author
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